MS HB1360

Amends Section 81-5-85 to allow state-chartered banks to enter into business combinations (mergers, share exchanges, or asset transfers) with other banks, savings banks, savings and loan associations, or other entities with commissioner approval, provided the survivor is FDIC-insured.

Aligns bank merger procedures with Article 11 and Article 12 of the Mississippi Business Corporation Act rather than limiting mergers to specific institution types.

Adds enforcement mechanism allowing the commissioner to issue cease-and-desist orders against unauthorized business combinations, with appeal rights to the First Judicial District of Hinds County within 30 days.

Amends Section 81-5-97 to clarify the commissioner may approve bank or bank branch closures for up to two whole days per week (previously one day), unless emergency circumstances exist, while still excepting state/federal holidays and Sundays.

Effective date: July 1, 2022.