Senate Bill 2936

(As Passed the Senate)

AN ACT TO AMEND SECTION 91-13-6, MISSISSIPPI CODE OF 1972, TO ALLOW TRUSTEES, GUARDIANS, ADMINISTRATORS, EXECUTORS AND OTHER FIDUCIARIES TO, WITHOUT COURT ORDER, INVEST OR DEPOSIT FUNDS HELD IN A FIDUCIARY CAPACITY IN ACCOUNTS IN ANY FINANCIAL INSTITUTION WHOSE DEPOSITS ARE INSURED BY AN AGENCY OF THE UNITES STATES GOVERNMENT; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 91-13-6, Mississippi Code of 1972, is amended as follows:

91-13-6. All trustees, guardians, administrators, executors and other fiduciaries may, without court order, if not prohibited by the instrument, judgment, decree or order establishing the fiduciary relationship, invest or deposit funds held in a fiduciary capacity in time certificates of deposit, savings accounts or other interest-bearing accounts of any financial institution (including itself, if the financial institution is the fiduciary) whose deposits are insured by an agency of the United States government.

SECTION 2. This act shall take effect and be in force from and after July 1, 2011.