OFFICE OF TtiE ATTORNEY .GENERAL OF TEXAS
AUSTIN
Ronoruble JBSBG JeEWe
Strts Treesurer
z‘SoViSia of' i;rti.ole 6961
-2. S~inoe the Sttts Troatiurer haa ix+
method of 8eouring the umrket value of the
seourltlas llOw OXI deposit undar .Artic1e 696,
4xOept fro% the 36rhxii0 4xt?dniitio;n of the
ebore Ore~t fm6pioeo Life Ux&mmltsrs, Inc.
by the State &inZlne 3cpertment, do ys+u oon-
sld*r the eboved as aaoepte’Jle oollatsrrvl for
the pmteotlou require4 by Lhd- atr.tutoe govern-
i.AliJsuob deponlte?
“3. Ts it; neoesecq for the SLtti ‘i&as-
u2er to obtuin tht, writtm trpp-oval of tbs At-
torney Sener:il of all srcwi5ties depo?~ited
under Art&lo 696-i
n . ...*”
Article 695 0r tha BevIsed, civil statutso or
Texae is au follmm:
%bb aorgomtion. ooapany or lncllvldual,
doing busincea in thin State a~ a bond invest-
rsant ocmpany, or conp+ny to plsca or sell bonde,
Obdiiti~SteB OF dabsnturw On the partial, pw- .~
aeat or tns~alltaent plan, ahal& depoalt with
the Stats Trrasumr, in ~traah or 8ewrities ap-
proveb b aaid Treaaur~r, the 5w.a of dive tbou-
#Uid 00 J uXS, aAd hi&l, bepO5it •~IZ&UUZUU~
rith mid Treesurer, in oad or 1340uritAs8,to
be approv&l by mid oiilaer, ten per oent OS
all ,pat predunre reeeilyad until the ma deposited
utaouota to ode ‘hundrcnl thoumad dollnra.
Aotta ltB$P,pe l18; Ip.L. Vol. lo,, &t 1172.”
mtmb b99 is 8~ r0ihw0t
%A request of any such ooapeng, the Stats
Treasurer is euthorized t.o pera2.t auoh oon~
to ln~erdwige oaah ior the neaurltiea or seeur-
itle5 r0r tha oash dapodtaa by ruoh oonpaay
under tbe provleiom oi thie title with mid
Treasurer, such sQourltie8 alwaya to be spgrOVe4
by seld Treesurer on the mltteri advtat of tha
Attofpey Genersl. Rota. 1901, p 282.”
The only part of Smete ~BZll No. 165 fin& mend-
mGAtS tfi4x4t0, ?thiCh iS ~miOl4 152&i Or v0h~A’B hnnOtat48
Tear Bktuter,, that thrws any light on the qW&lc%i arked
by you 1s the tollawing part Of Seotlon 7 or said AOt:
*. . . . .
"f-l1 sash or sscuritite left with the State
Trewurtr ia co~qM%aae with Lrtlol% 696, ite-
viaed Clr:l Stetutar of 1.925, ~hali he coosldered
aspmt ai the coltaterel rripuirsd ualer this
Beotibn."
*. . . . .-
It ie tfle .opinion of this doptwtmebt, there-
Tore, that c;u4stlod NO.. 1 asked by you should b4-eAaR4rti
ia th% Aeg6tiVe I&n4 No. 3 iA the 6ffiXtS0t~V%~ we UliW
unable to definitely XUUWAPqubstlon Ho. 2 arks4 by jiou,
rOX the C%(LBOII that this tiepUtm4Ab h&8 110 iAfOnOatiOA ,. ’
$!
as to the mlue or the r%rloU cewtitie~ lidte4 by
you, but it 1s the O~~A~OA of thlp departmeat; t&g&& ‘:
w%b iateadsd by the pasaaga Ot t&i8 law ‘to reg1&6ithe
4Oapanlsa eir40teu thertrby to napsit eQourltees that
ha& an a4tus3'sAlu4 or tb4 ewm reqtimd tbersbjay. Xf
the vclluati placed GA &ucrhs%our1t1%% by the &skfRg
3%pmtAent m.mot be relied upon and yuu desire turbhsr
intoxmation la regard th%r%to, 0ot);e way 6hQUld be fOuad
to detershe the value of wm%.
Trusting that tkle satisiaotorlly answofa
your in~uhy, we are
w /i/ Jas.‘PT.
narlett
JPIEl:dbrvde .A0aiiMiAt