Bill > SB2383

This bill revises various banking laws in Mississippi, including updating the definition of "electronic terminal" to encompass a broader range of automated banking facilities like ATMs and ITMs (Interactive Teller Machines, which are virtually staffed machines allowing real-time video interaction), and clarifying that these are not considered bank branches requiring state licensing. It also grants state banks and thrifts more discretion in establishing and decommissioning these electronic terminals and setting their fees, emphasizing that these decisions should be based on sound banking judgment rather than requiring prior approval from the Commissioner of Banking and Consumer Finance for establishment. The bill also modifies the procedures for state banks to declare and pay dividends, requiring prior approval from the Commissioner only under specific circumstances such as the bank being under a corrective plan, becoming undercapitalized, or facing risks to its safety and soundness. Furthermore, it shifts the approval authority for renewals or amendments to a banking corporation's charter from the State Comptroller to the Commissioner of Banking and Consumer Finance, streamlining the process by removing the need for approval from the Attorney General and the Governor. Finally, the bill authorizes state-chartered banks and trust companies to invest in certain community and economic development entities and projects, mirroring the investment authority granted to national banks under federal law, with specific notification requirements for most banks but exemptions for "eligible banks."

Business and Industry

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2383.xml