81-14-113 - Merger of savings banks where ownership is converted. - Mississippi Statutes

§ 81-14-113. Merger of savings banks where ownership is converted.
 

(1)  Any two (2) or more state mutual savings banks may merge to form a single state stock savings bank in separate merger-conversion proceedings or in simultaneous merger-conversion proceedings. 

(2)  Any two (2) or more state stock savings banks may merge to form a single state mutual savings bank in separate merger-conversion proceedings or in simultaneous merger-conversion proceedings. 

(3)  The commissioner may promulgate rules and regulations to facilitate the transition from two (2) or more savings banks to a single savings bank under a new form of ownership. 
 

Sources: Laws,  1992, ch. 489, § 32; reenacted without change, Laws,  1997, ch. 364, § 32; reenacted without change, Laws, 2001, ch. 457, § 32, eff from and after July 1, 2001.