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Can you summarize 81 MSCO Chapter 7?
Banks and Financial Institutions > Branch Banks
Short Summary
This legal document, Mississippi Code 1972 » Banks and Financial Institutions » Branch Banks, governs the establishment of branch banks in Mississippi. It outlines the application and procedure for establishing branch banks, including the requirement for obtaining a certificate from the commissioner indicating that the public convenience and necessity will be promoted by the branch bank. The document specifies that applications must be filed with the commissioner and include the necessary information and fees. It also outlines the process for notifying interested parties and allows for written protests to be filed within a specified timeframe. The commissioner is responsible for investigating the facts and rendering a final decision on whether the establishment of the proposed branch bank is necessary. Appeals can be made to the State Board of Banking Review and, if necessary, to the chancery court. The document also includes provisions regarding the expiration of certificates if a branch bank is not established within a certain timeframe. Overall, this document provides the framework and procedures for establishing branch banks in Mississippi.
Whom does it apply to?
Banks and financial institutions in Mississippi
What does it govern?
Establishment of branch banks in Mississippi
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned in the document.
Jurisdiction
Mississippi