27-28-2
Section 27-28-2 Plan for exchange of stock, etc., between domestic stock insurer and holding
company - Procedure for exchange. A plan of exchange shall be adopted and become effective
in the following manner: (1) APPROVAL OF THE BOARDS OF DIRECTORS. - The boards of directors
of each corporate party to the plan of exchange by resolution shall adopt the plan of exchange
which shall set forth the terms and conditions of the exchange and the mode of carrying the
same into effect and such other provisions with respect to the exchange as may be deemed necessary
or desirable. (2) APPROVAL OF COMMISSIONER. - Every plan of exchange, before being submitted
to vote of the stockholders pursuant to subdivision (3) of this section, shall be submitted
for approval to the commissioner in accordance with the following procedure: a. After the
approval required by subdivision (1) of this section is obtained, the domestic company shall
submit to the commissioner three copies of the plan of exchange and...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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45-37-123.01
Section 45-37-123.01 Definitions. For the purposes of this part, the following terms shall
have the following meanings: (1) ACT. The act adding this part, to be called the General Retirement
System for Employees of Jefferson County Act. (2) ACTIVE MEMBER. An individual who currently
is employed by the county or other entities set forth in subdivision (20) and is making employee
contributions to the system. (3) ACTUARIAL EQUIVALENT. Effective July 30, 1984, or such other
dates as set forth in Exhibit A, which is maintained in the office of the pension board, a
form of benefit differing in time, period, or manner of payment from a specific benefit provided
under the plan but having the same value when computed using the mortality tables, the interest
rate, and any other assumptions last adopted by the pension board, which assumptions shall
clearly preclude any discretion in the determination of the amount of a member's benefit.
(4) ACTUARIAL GAIN. As defined in Section...
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35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular property: (1) Traveler's
checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand,
savings, or time deposit including a deposit that is automatically renewable, three years
after the earlier of maturity, as extended from time to time, or the date of the last indication
by the apparent owner of interest in the property. (4) Tangible and intangible property held
in a safe deposit box or other safekeeping depository in this state in the ordinary course
of the holder's business and proceeds resulting from the sale of the property permitted by
other law, three years after expiration of the lease or rental period on the box or other
depository. (5) Money or credits owed to a customer as a result of a retail business transaction,
one year after the obligation accrued. (6) Property in an...
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7-4A-403
Section 7-4A-403 Payment by sender to receiving bank. (a) Payment of the sender's obligation
under Section 7-4A-402 to pay the receiving bank occurs as follows: (1) If the sender is a
bank, payment occurs when the receiving bank receives final settlement of the obligation through
a Federal Reserve Bank or through a funds-transfer system. (2) If the sender is a bank and
the sender (i) credited an account of the receiving bank with the sender, or (ii) caused an
account of the receiving bank in another bank to be credited, payment occurs when the credit
is withdrawn, or if not withdrawn, at midnight of the day on which the credit is withdrawable
and the receiving bank learns of that fact. (3) If the receiving bank debits an account of
the sender with the receiving bank, payment occurs when the debit is made to the extent the
debit is covered by a withdrawable credit balance in the account. (b) If the sender and receiving
bank are members of a funds-transfer system that nets obligations...
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7-4A-206
Section 7-4A-206 Transmission of payment order through funds-transfer or other communication
system. (a) If a payment order addressed to a receiving bank is transmitted to a funds-transfer
system or other third-party communication system for transmittal to the bank, the system is
deemed to be an agent of the sender for the purpose of transmitting the payment order to the
bank. If there is a discrepancy between the terms of the payment order transmitted to the
system and the terms of the payment order transmitted by the system to the bank, the terms
of the payment order of the sender are those transmitted by the system. This section does
not apply to a funds-transfer system of the Federal Reserve Banks. (b) This section applies
to cancellations and amendments of payment orders to the same extent it applies to payment
orders. (Acts 1992, 2nd Ex. Sess., No. 92-701, p. 145, §1.)...
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7-4A-401
Section 7-4A-401 Payment date. "Payment date" of a payment order means the day on
which the amount of the order is payable to the beneficiary by the beneficiary's bank. The
payment date may be determined by instruction of the sender but cannot be earlier than the
day the order is received by the beneficiary's bank and, unless otherwise determined, is the
day the order is received by the beneficiary's bank. (Acts 1992, 2nd Ex. Sess., No. 92-701,
p. 145, §1.)...
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7-4A-504
Section 7-4A-504 Order in which items and payment orders may be charged to account; order of
withdrawals from account. (a) If a receiving bank has received more than one payment order
of the sender or one or more payment orders and other items that are payable from the sender's
account, the bank may charge the sender's account with respect to the various orders and items
in any sequence. (b) In determining whether a credit to an account has been withdrawn by the
holder of the account or applied to a debt of the holder of the account, credits first made
to the account are first withdrawn or applied. (Acts 1992, 2nd Ex. Sess., No. 92-701, p. 145,
§1.)...
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7-4A-406
Section 7-4A-406 Payment by originator to beneficiary; discharge of underlying obligation.
(a) Subject to Sections 7-4A-211(e), 7-4A-405(d), and 7-4A-405(e), the originator of a funds
transfer pays the beneficiary of the originator's payment order (i) at the time a payment
order for the benefit of the beneficiary is accepted by the beneficiary's bank in the funds
transfer and (ii) in an amount equal to the amount of the order accepted by the beneficiary's
bank, but not more than the amount of the originator's order. (b) If payment under subsection
(a) is made to satisfy an obligation, the obligation is discharged to the same extent discharge
would result from payment to the beneficiary of the same amount in money, unless (i) the payment
under subsection (a) was made by a means prohibited by the contract of the beneficiary with
respect to the obligation, (ii) the beneficiary, within a reasonable time after receiving
notice of receipt of the order by the beneficiary's bank, notified the...
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7-4A-503
Section 7-4A-503 Injunction or restraining order with respect to funds transfer. For proper
cause and in compliance with applicable law, a court may restrain (i) a person from issuing
a payment order to initiate a funds transfer, (ii) an originator's bank from executing the
payment order of the originator, or (iii) the beneficiary's bank from releasing funds to the
beneficiary or the beneficiary from withdrawing the funds. A court may not otherwise restrain
a person from issuing a payment order, paying or receiving payment of a payment order, or
otherwise acting with respect to a funds transfer. (Acts 1992, 2nd Ex. Sess., No. 92-701,
p. 145, §1.)...
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