559
OFFICE OFTHE ATTORNEYGENERALOFTEXAS
AUSTIN
y-rabble J. T. kia&Allln - poa;e2
Your inpuiriea make it nwass~ for us to eon-
strue oertain sections 0P the BtildLng k Loan Aasoc*8tiono
Aot.
Seotion ua (Article8(118,Vernon.6 Pexaa St8t-
utes) prorid-:
nForeign bulM.ing and loan assooistion8
may do buainesa in this State fn aaoordanoe
with the larm of thlc State governingbuild-
k ng a nd lo a n a c leo f3f8tio nn~
l * *
69 make8 the following rsqube-
@SeSeotion
I&nt of a torsign assooietiondesiring to do
business fn T-rn~
w(3) It ahall deposit rith the Banking
Codsslioner ot Texas On8 Bumlmd Thouoard
Dollare in aaah or bond8 of the United %tate#,
or bouds of ag state of the Urdted States,
or bonbs OS any oeuntg or nuniatpal oorpwa-
tion In the St&to of Texas, or mortgagee be-
ing firet llelxson fmgPoved and CoaPotlVe
rear eetato loeated in thio State and uopth
at least ttioe the amount of the lieru, fhiah
seaurities ahallbe approVodi.nadvaneebf
t,bsBaskd.q~Comhsioner uf Texas. IheBanX-
ing Conad~I.on4roi Texas shall have author-
ity to require such rcr6oaiatlonato depodt
a&%itlonal seauritiee, and to order a ehaxtge
in any Q? the sesuritioo gc,dqmsited at any
time. Such deposit ahall be held aa aeeur-
ity for all claiineof reeidmts of this Stats
against swh foreign arroaiation,and sh811
be liable Ear 811 jud~nts or dearees thsre-
on; and said aoauritSea shall not be released
until obligations to rosiaents of this State
&all have bekm fullr pePfW%sd and disclherged.
+ * 0"
Seation 60 further deolamer
"&ll such sscuritiosdoposited tith.t.he
hnk%ng Cadssloner of Texas ahall be ims-
i
YonOroblo J. T. bw~lllin - page 3
dirtoly do~dted by them (him) vitb the
Gtate Troaourer rho, +ith hie euroties,
r&all be rerrponsiblefor the safokoo
ttmreof. The state treasurer eball 8% 0 wr
suoh socuritieo only upon the rrltton ordoP
of the SankSag GozmdsolonerOP Texas.*-'
Artialo 93 of the Penal Code red6 a8 follosot
.If the State Tresmurer eball knotin@-
4 koop or missive into ths building, l&~IJ
or vault8 oi the treamry, any mm6y or
roprseontativethorool'belonging to my in-
dLv%dual, oxoepting cueis expres8ly prariddl
ior by lau, he shall be eonfined in tbo pord-
than two nor mere than
tontiary not 1431~s
five pear.**
60, aleo, hPtio1e arl1
Ot triolEtorimed
Btatatos,pooides that,
*rho Tromiurer eball not keep or mk-
O~~va into tlm byildfng, &a* or vault@
of the txeaoury my moneys or the rope-
oeatatSve of namey, belonging to Ug ia-
divAdual wept in cams expressly ps,
rided for by la~,~
It will be aoen tbo deposit Feqwired of mmb
roreign buildZmg and loan arrtloe%atton
qf 4mzmfah *La
Qamh or bond& DC "iir6t IHPt~Of#', @UIdthPt'*#W&lde
peait shall be hold an remxr%tf ?or all 018irrrof'rsd-
dont~aof this State egainot umh fore&p 8oooaation,
and s-hallbe liable for all pigments Or deWwoo there-
011.'
The deposit (of Mmtsoeter 6zharaoteF.)ia
troaiod throughout ,We Aat as secrurityand the OCmiptm-
snt part&aof the dopeeit, whetbor of oash, bonds Or
mortgages, aa l 6iemritimP. There IS no lnton~on to
aegrogete the oaob security from tbo bond anL UWt&~e
seourttg in any reqx3ot sllat6werr In other wma0, there
fe nothing to 4,mUoat.ethat the oath petitionof the d&-
poolt ohoulc¶be handled tn an$ different way p?ro~the
I, rq
;c; FIRST ASSISTANT
\,: ATTORNEY GENERAL
A oornlt
'.'
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