81-25-169 - Authority of of commissioner to suspend or revoke license.
§ 81-25-169. Authority of of commissioner to suspend or revoke license.
If the commissioner finds that any of the factors set forth in Section 81-25-167 are true with respect to any foreign bank which is licensed to maintain a Mississippi state branch or Mississippi state agency and that it is necessary for the protection of the interests of creditors of the foreign bank's business in the State of Mississippi or, in any case, for the protection of the public interest that the commissioner immediately suspend or revoke the license of the foreign bank, the commissioner may issue, without notice and hearing, an order suspending or revoking the license of the foreign bank for a period of up to ninety (90) days, pending investigation or hearing. The suspension or revocation of the license of the foreign bank by the commissioner may be appealed using the same procedure in which a suspension or revocation of a license of a state bank may be appealed.
Sources: Laws, 1996, ch. 441, § 58, eff from and after May 1, 1997.