Banks; authorize investments in SBICs incorporated outside MS and in LLCs and LLPs.

HB 1330 allows Mississippi state-chartered banks and trust companies to invest in Small Business Investment Companies (SBICs) regardless of where those SBICs are incorporated, expanding their investment options beyond Mississippi. It also modifies board meeting requirements, changing the default to quarterly meetings (unless regulators direct otherwise based on exam findings) and removing the need for separate quarterly meetings of executive and audit committees. The bill directly affects Mississippi banks by broadening permissible investments and adjusting corporate governance rules. It takes effect July 1, 2025, and was signed into law on April 17, 2025.