Untitled Texas Attorney General Opinion

OFFICE OF THE AYTORNEY GENERAL OF TEXAS AUSTIN Honorable 01 1. oounty Auditor mleoor oounty oorpw ohri8t1, we a43knouledge reoe r8que6ting our opion 86’to of the bank a6 reserve for o .’quest read6 a6 r0li0v68 w0ren00 to the bank oapttalt wwi-y bank, vhethar Of lraue or do orit,..baaakor, broker, daalor In arohango, or rtoekjob fl 8% .rhll at tha tin4flxodby thlrchapter forUrtimg.pommal property, make out aml itulnirhthe armor of taxes a 6vorn 6tatsPrent6hovlng~ Roaoreble 0. j. Wilde, Pa&e 2 '1. I? a national bunk, the presideat or some other offioer of 8uoh bank shall furnish to the as- sessor of the oounty in vhioh ruoh bank Is looated a list of the aams of all the shareholdersot th8 stook, together vith the number and amount of the shares of saoh stookholder of rtook In said bank1 and the share- holders of the rtook In national banks shall reader to the tax assessor of the oouut in vhioh raid bank is looatsd the nuder of theirJlar.8 aad the true and tFil1value thereof. All sharer of rtook in national baakr not renderedto the assessor pf taxes in the ooun- ty vhero ruoh bank Is looetad vithln the the presorib- 06 by lav for listing prsporty ter taxes shall bo aaaw- o d b y th a ls#osser agaInatthe ovaor or ovnersthonoi as unmadered property IS lssessed~ but the tax roll shall shov the asm of ths ovnor or ovners thsrrof as per rtstament fumishod by the president or other of- fleers or said bank. '2. Xatlcmal bank8 shall render all other bonds and rtook of every kind, exoept Waited Btate8 beads, and all share8 oS.oapital rtooks or ,Jolnt#took or rtosks or other oompanlo8 or oorporatloashsld as an investueat or in q~vaf representingassots, together pith all other persoaal property beloqing or pertaining to said baak, 4xo4pgtsuoh personal exempted favm taxation by “3, .,Natioaai baaks &all ~.requirod to rend00 all of thslr ma1 estate as othss nal ertato 18 rendawd~ and all tha sr8onal property sf raid natioaal baaks~bore- la taxed shbP1 k valued ati othsr~ personal propert is valued. '4.:.All OtheP badiS;.b8nk~+# .brokers;'ordmlO~8 OP rtoolcjo~bsss,6li&iwnds~ t&sir lwt in ., or in transit or l amunt et billi reoelmble, dleoouuted or due, laolud- ing aooount8 rooelvable, lntersst aoorued but not due, aad interest due and unpaid. Honorable 0. S. Wilde, Page 3 a%lOlltItOf thS itSIS the flrst and ssooad of thS last tvo subdl- riSiOll8 Sbi11 bS doduoted the amount of money on dSpo8it. "(4) - ProMt Of bad8 and StOOkS Of OYS kind, e%oopt United 8kt.8 bonds,~Ud 811 ShSW8 of asp 1 tal stooks Or joint StOOkS Of OthSl’ Oonppnil?8 Ol’ OOrpOl’S- ticbaahold 88 an inVsStrSl%tOr in urj vS~ nprSsSnting assots. OP b~lnos~~~ lnoludlng.both personal prop- lr ty’a nd real @St&S, 8hSll bs 1iStsd 88 other pOP80~1 propert and real estate.” Tao first three subd~r1~1oa~of sala ha& 7165 apply only to national banks. Subdlvi8loa 4 appllss to “all motherb~nks~* Art;olS 7166, mxas, Revised Olvll Statutes~,1925, pro- vides for the MnditiOa Of Ma1 OUtstO ovned by thS biWk8, and for thS aaauor of 88808~Ollt O? rt3alestate or the bank and o? the ShSZ'OS Of stoak ovaed by it8 StOOkhOldSl’S in thS ?O~OVing hlg~S~0: *xvory bmkiqg aorperetloa,atatS 0~ aatianal, do* ?W~.88 in thi8 8t8tO ShsU, ill th8 Oitr OF town *.*bLob it ls looated, mndo* fts anal Sstato to.tbA t&g assessor at the tire an&in ths manor r~- qrriwa af.indi~m8ii. At the time.of aaw ruoh rendition tit0pnsidoat or some othm 0fri04r of said bank shall ?llS with said assessor a sv~m statcrPsnt 8aop* th~11~bS~and~80~0f w 8har~8 S? 88ia baa, th+aamo aria W8168aOO etlaoh 8hbmh0i&dr, aa the aumboa aad aaount of sharrs ovasd by him, XYOFy sharoho~der of said bank aball, in th. Oltr 1ovtama vhororatabank ie.looaf~ed, roadoa'at tlwlp aetiqal rSluo,to the ta* assas~or all SbmSs owaml by h3m.l.a suoh .baaklaad la ease of hi8 failure so to 60 j, thb as8ebsor ~b~l~Ss8e8s moh -naSmd sh~n8 88 othSr UXkPSnd~~d’pMpO~t~, .%4h 8hsrO ilk 8UOh ksk Sb= b0 taxed ealyfoP.th4 di?fOl'OBOS bOtYOOn it8 8otMl Ocrsh value and thy ppaportionato per shre at uhioh amouut it8P O81 lStatO i8 ‘m t8XOS duo UpOl!l th* S8SO884d; shares of bank- ooz-porationa shall be a lien themon, and no banking oorporatlon shall pay say U&l&end to --~. -,---- .. ..---L_~_ h-_,, Bonorablo 0. 3. Wide, Pa@ 4 say shanholdervha i8 lade?aultlntho paymentor kxO8 dU0 dllhi8 ShSPSSJ XtOF ShSll q bSIi* OOI’- pontion ponait the transfer upoa its books of any shah, the ovnor of vhioh Is in default in the pay- mat of his kx68 upon tho 86I66. Not- herein oh811 be so oonstruod as to+ax national or Statr~baakr, or ths shareholders thsreof, at a greator rate than is l880880d against 0th~ moaeyod oapital in the hmU Of iadiYidU818.' The phi-88~%osor~~ for oontiageaalesalndfaatos &at thebaalthas sat rpartrodse@ogatod& part ef Its oamod sur- That ibnd, by vhatovorname it may bs oallsd, la a part of the 'bank'8 arsonsl pr0p.r~. AS suoh it 18 neither 888o86- able aor taxa?Po to the bank. Art1010 n66, supra; city of Marshall 10~ State Beak of warsball, 60 0. A, 508,~127 s..Y. 1083. On the other band, as personal property, It Is a papt of the as- 8ot8 of the beaL and is me of the faotors to be talceainto ooa- slderat~on by the board of egualix8tlon ln SIxLag the value of the 8tOok SOP t6X putpo668. Trusting thathhe above fully 6~8vefr8your laqulry,vo are FolmP N0b4rts ~SSi8ts46 ,._--. ATTORiEY GliRAL OS ZECtiS COMMITTEL