The transfer of any part of the stock of a state bank to trustees solely or primarily that they may vote the same at annual elections and stockholders' meetings - 'voting trusts' as they are generally known - is expressly prohibited. A violation of this section by any bank or banks shall constitute a breach of law, and subject any such bank or banks to liquidation and forfeiture of their respective charters; provided, however, that this section shall not apply to any stock owned by an agency of the federal government.Codes, 1942, § 5197; Laws, 1934, ch. 146; Laws, 1966, ch. 248, § 1, eff. 4/11/1966.
Mississippi Legal Code