OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
Xcmorabla Jomoe J-0
stmso Treaewer
~UaQln, Tams
FiQnmable Jew JtriJms
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FWumabL, Jeeee Jemee - &me% 4
f
"(h) Open spproml of the flnrl.r%~ortof
llqaId%tlanby the Oo%nlaelo~r, %.aldreport
shall be prasenfod to the aovt and tke oourt
lh%ll %ntW uoh or&or, jud@a@nt end deoree 88
ma b4 aeoeemary.” -- vernon~s clr. stat. wt.
8e.L.
Long,prlor to 1939, buIldIng and loon a%%aoia-
tloae were,tubdor the eup%ryIsIonof th% BankIn& ComaI%slon-
er,~lnat he ume not~olbthe~rith the sower to lIqtiMst+a
eta&h oorpontltiaa,that bcblngaooompit8hedby tii%volun-
tery,aot of the %ePooIatlon,or through s.jadIofal.proaadi
In$ popsrly idtltuted.
‘rpoarn~rda ulth nep8ot to lrtlndlo.'31 mflr&,
aio;ro94dvi8e tte :.ln ooanootlonwllih your orl&nal requaet,
.:‘. $4imt.:the:
fund rlint+dnedspoeite aadb by a numberof build-
&&-e&. ~~OUIeieoo%it3oae'upon:tolantarrliqtidmtlgn;end
piWelblg~xQm or~aom judloi%l~llquld%tloue~8uohl.mofmd%
db not-dlreloeo,:&owever any deposit br th% %%rrkln@ ~aom-
:i.
:'5. mlaqloaer&a
,.A.::.:!.,:.
'..!
isu~~e. a. oaae,oi~,.~~gu~batioa.~i~~~ted
by him
'of'~8ro.t10a,;~ls.~o.*'!~s"pr;iis~e~~‘,.~id~ Input-
,,t',:f;orn : ,~‘,:';:.
;'Aerrol;".~,~,:~,.
,I
oiatton.AoF.
IIsbiro edrlih byethe Benkln$ Commierlonirthat
1%:aclew*ti @ho:pnotiae or bhat Departewnt,upon 'the rob
-onta~~diee@utlon ot a bulldIn& pnd'loen.es~oIetIonus+
4er it8 euQW~l%l~n to .ruqalreor the dI%SOltin&oorpora-
t1on.r 4q6elt rit&the~Stste Tmeearer to oo~yerwolela-
eillmu.'of mosey dor;.~ee:,&r g~&~~rml by.Artiele,840,Re-
vised C1~,13~Stututue, 1926, with mapot to.mlanterf
llquldatlaneof baaklngt Inatbtutionn,8aah depoeit uauel-.
ly beS#qgmdo through the Bankind Oom@soiono~ a@ inter-.;
.mivdiary. nhether~or not Wnknhla ‘any etcltaots r*quMiqf ,:.
eaoh Uepoeltqto be m&da with the State Tnssorar B?%noed
not Qa Zaqulra or'dWId%, %lbsIt'a very tbou@htSul aud
w~lrrd&e praot$ae.
Gush doposit by an oseoqiation In,oourea caf Sol-
untsry 1iqaIdatIc.mIn ,n%srsnt would %om% *IthIn ths pro-
vI%Ioas or ~.otlon 16 -0i the mlldlng 8.Loan A%eooIation
Aof,, adopting by refiwsnoa,the bank l~quldetlonmthod by
the Bnnklta~ mmmIesIonsr for the sit&p&ereimon tha Cozi-
desloner has not t&m over the saeoo~etlonId ob%dIenoe
to en order of a.court or oomptsteatjuri%dIotlun-- ths
1iqxildatZon
bshq wholly ~oluutnry.
while oolsein rinan6iol oar ration8 are by
law unllerthe *up6niaiOn or th6 i!M& aopmiuiOlMlr,
notably, loan oaa brohwgcr ooapnlec, and ~,rsdiO
uaionr, the e,tatutaedo not aulhorlse the* 0frhir fo
liquid&a suoh ~orporatfona,and where, 80 &a 61241
aam
with you, a tmit Aelposithe* b6%a TOluntmuy rpreebr
tha aorgwatiw ror the b666PiO or Q noh~laiming oredlb-.
or, th e n
c er k inly
isno lt+uke euthorlaing niuuh1.~
l%quir3a&you a'*Tr%asur%rte turn over such 8epooit $0
~thek3aaibg Comaiaeianrr,a8 ther6 ia la,the pr6sWO
i%ukbg code, 6lready rafcr6d to in this opkxianl