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MS SB2592
Bill
Status
2/27/2018
Primary Sponsor
Rita Potts Parks
Click for details
AI Summary
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Amends Section 81-5-85 to align bank merger procedures with Article 11, Chapter 4, Title 79 of the Mississippi Code (Mississippi Business Corporation Act)
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Replaces detailed shareholder voting requirements with reference to the plan of merger approval process under the Business Corporation Act
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Requires commissioner approval of the merger plan before state-chartered bank charter amendments are filed with other state officials per Section 81-3-15
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Permits state-chartered banks, national banks, and state or federal savings institutions to consolidate or merge under a surviving state-chartered bank charter with commissioner approval
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Takes effect July 1, 2018
Legislative Description
Banks; revise merger process to align with the Mississippi Business Corporation Act.
Last Action
Died In Committee
2/27/2018