Miss. Code § 77-3-425
In the event any domestic telephone or telegraph company has, within eighteen months prior to May 7, 1940, sold, leased or transferred any of its franchises or properties within the State of Mississippi, then that person, firm or corporation to whom such properties were sold, leased or transferred, or any successor in title thereto, shall be under the obligation to render such telephone or telegraph service in a reasonably adequate manner, and the commission shall have the authority, upon petition of the attorney general, to proceed to investigate the operation of the telephone or telegraph business of the vendee, lessee or transferee, or any successor in title, in the same manner as is provided for in this article as to the domestic corporations. If the commission shall find, after such hearing as provided for domestic corporations, that such vendee, lessee or transferee, or any successor in title, is not rendering such service in a reasonably adequate manner, then the commission shall have the authority to require such changes to be made as it could in the case of domestic corporations, and if such changes are not made as required by the commission, then the commission shall have the authority to forfeit the right of such vendee, lessee, transferee, or any successor in title thereto, to operate a telephone or telegraph business. If the commission shall find that such vendee, lessee, transferee, or any successor in title, cannot be reasonably expected to render such service in a reasonably adequate manner, then the commission shall have the authority to forfeit the right of such vendee, lessee or transferee, or any successor in title, to operate a telephone or telegraph business within Mississippi, and shall appoint trustees for such business, as provided for in Section 77-3-419.
Miss. Code § 77-3-425