81-23-19 - Violation by out-of-state state bank; authority of commissioner to take enforcement action. - Mississippi Statutes

§ 81-23-19. Violation by out-of-state state bank; authority of commissioner to take enforcement action.
 

If the commissioner determines that a branch maintained by an out-of-state state bank in the State of Mississippi is being operated in violation of any provision of the laws of the State of Mississippi, or that such branch is being operated in an unsafe and unsound manner, the commissioner shall have the authority to take all such enforcement actions as he or she would be empowered to take if the branch were a Mississippi state bank; however, the commissioner shall promptly give notice to the home state regulator of each enforcement action taken against an out-of-state state bank and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving the enforcement action. 
 

Sources: Laws,  1996, ch. 441, § 11, eff from and after May 1, 1997.