81-14-127 - Supervisory mergers, consolidations, conversions and combination mergers and conversions. - Mississippi Statutes

§ 81-14-127. Supervisory mergers, consolidations, conversions and combination mergers and conversions.
 

(1)  Notwithstanding any other provision of this chapter, in order to protect the public, the commissioner, upon making a finding that a state savings bank is unable to operate in a safe and sound manner, may authorize or require a short form merger and conversion of the state savings bank, or any other transaction, as to which the finding is made. 

(2)  The commissioner shall promulgate rules and regulations to govern mergers, consolidations, conversions, combination mergers and conversions and other supervisory action authorized by this section. 
 

Sources: Laws,  1992, ch. 489, § 39; reenacted without change, Laws,  1997, ch. 364, § 39; reenacted without change, Laws, 2001, ch. 457, § 39, eff from and after July 1, 2001.