Untitled Texas Attorney General Opinion

Hon. L, s, Johnsen, CoMissioner, Department of Banking, Austin, Texas Opinion No, V-216 Re: The legality of a State Bank Charter amen&meat to chalye its domicile from one.cou~&y to anoth- era Dear Sir: Ton request our opinion in the rolhmiag WArticle 4 Chapter III of the Texas @a&ing Code provides tkat the Axtiol&~ of Association ef a State Balllr*shall contain: 2, The city or : town ami the oounty of its dcmici10.~ "Article 12 Chapter III of MO Code prwides: #Subject to the pro- risions of this Code, any State bank may amen4 its Articles of Assooiation for aay lawful purposeGo 0 a 0 spro- rided, however, i o y no ameabrsnt changiw tke d@micile of anJrstate bank to amother tit or town shall be effective until -the approve State Banking Board in the manner provided ior tha approval of an original appli- oatien for chartorn *Since RB specific provision is aa& under the above authority for a bank to move ita domicile from within one couaty to within anether county, we are hereby requesting your opinion aa to whether a bank in lmen&ing its charter to change fts domicfle from one t0wn 1~ one county ts a city in another county is so tuaondingits Hon. L, S. Johnson - Page 2 (V-210) charter *for a lawful purpose" pro- vided it complies with that provis- ion requiring it to submit the Amend- ment to the State Banking Board for approval," Section 16 of Article m of the Constitu- tion dealing with State banks contains the following: "Such body corporate shall not be authorized to engage in business at more than one place which shall be designated in its charter.* The "place" contemplated by this provision means the town or city wherein the bank is to be estab- lished and operated, The language quoted by you - "provided how- ever O O O no amendment changing the domicile of any state bank to another city or town shall be effective until approved by the State Banking Board in the manner provided for the approval of an original application for charter" - undoubtedly implies that the domicile of any state bank may be changed to another city or town by the process of charter amendment. Suoh amendment, therefore, would be *for a lawful purpose" and there is nothing in the Code to limit the permissible removal to another place in the county of its original domfofle. You are therefore advised that any state bank may amend its charter so as to move its dOmiCile from one ::ountyto a town or city in another county, provided it complies with the requirements of th2 Bank- ing Code with respect to submitting such amendment to the State Board for approval, "fn the manner provided for the approval of an original applioation for oharter." SUMMARY A state bank may lawfully remove its domicile from one county to'another town or city in another county upon amending its charter properly, and sub- mittfng the same to the approval by the _. Hon. L. S. Johnson - Page 3 (V-216) State Banking Board in the same man- ner provided for the appkoral of an original applicatioa for charter. Art. 12, Chap. III of the State Bank- lag code or Texas. Yours very truly, ATTOltlQtY(SENJ3RAL OFTY!ZAS 0S:wb BY && Assistant I APPROVRB ILAY 24, 1947