2019 Mississippi Code
Title 91 - Trusts and Estates
Chapter 9 - Trusts and Trustees
Article 15 - Mississippi Qualified Disposition in Trust Act.
§ 91-9-705. Qualified affidavit; contents
- A qualified affidavit shall state that:
(a) The transferor has full right, title, and authority to transfer the assets to the trust;
(b) The transfer of the assets to the trust will not render the transferor insolvent;
(c) The transferor does not intend to defraud a creditor by transferring the assets to the trust;
(d) The transferor does not have any pending or threatened court actions against the transferor, except for those court actions identified by the transferor on an attachment to the affidavit;
(e) The transferor is not involved in any administrative proceedings, except for those administrative proceedings identified on an attachment to the affidavit;
(f) The transferor does not contemplate filing for relief under the provisions of the federal bankruptcy code;
(g) The assets being transferred to the trust were not derived from unlawful activities; and
(h) The transferor is a named insured of a general liability insurance policy and, if applicable, a professional liability insurance policy, with policy limits of at least One Million Dollars ($1,000,000.00) for each respective policy.
