81-23-7 - Provisions.
§ 81-23-7. Provisions.
(1) In accordance with the provision of this chapter, a Mississippi bank may enter into an interstate branching transaction, or other exercise, the result of which the Mississippi bank, or the resulting Mississippi bank, establishes, maintains or operates one or more branches in a state other than the State of Mississippi.
(2) In accordance with the provisions of this chapter, one or more Mississippi banks may enter into an interstate branching transaction with one or more out-of-state banks, and an out-of-state bank resulting from such transaction may maintain and operate, as branches of the out-of-state bank, the branches in the State of Mississippi of a Mississippi bank that participated in such transaction.
Sources: Laws, 1996, ch. 441, § 5, eff from and after May 1, 1997.