Untitled Texas Attorney General Opinion

OFFICE OF THE A’ITORNEYGENERAL OF TEXAS AUSTIN 0-C.- YnollzI om- Honorable E. X. HodSeaespage S oontrol of the tunda, thus ao inoreaw in the prinolpal 88 the F&L&# do mot pey in- tmreat on the deposits, but it inrwte& in igvemrsentssaurities them would be aa &W ortmse by interest aaoruald, thus be a financial bencfit.w Saction 4 o? Artlcls 1586a, Veraon*r Aunotatod cltil btatutois, provides a6 followat *As soon ab said deporltoryIme ~uall- fled au providea by law and has beea approve& by the Coramlaelonerr Oourt, 6alQ Gourt shall make and enter an order upon the ainutm, dwlgoating euoh bank&q oorporatlon,armcla- tion, or intl$vlUual baukg as.Couaty Deporl- tory for Truet FuntIeuntil the $r&ua8ioa and ~uallfioatfonof a 6ucewmorC,aad thcw upon it shall bc t&c duty of the Oounty amd Diatriat olsrks of such county to deporlt all Tru6t Nids in their pxee6rioa with au& drpo#lliory in the manner herclaattorpziwii~$ profiWl, in the efent.,~ a new drporito not been selected and pualtficdby Apriz lsth mmosmllng the tena of Court at nhioh a do ori- -tory Is required to be eeleate6 au mzpA?ai ~.bythln Aot, than the $mm of m8h d.Dository ' shall ~sndaud all Trust Fun&c ~dur or on drpo8it shall be paid to the Clerk in whose name the aoaouut is carrl&* Your attrntion 1.sfurther dlrwte6 to tha radow .otbr raotionu of Article B555e mugzab regarding the trawfer of fun40 to a new depository,wlth4rawal of bepoafto duty to dsporlt TrutatFund aoeount, and ratious other alow regardingvarioue o&uditlonsan atltfort& in #uah o&p- tw* Wle do not think that fleetion1 and Section la oi Arti0L.eEt&a, Vernon's .&motatsd Civil Statute, authorize the dietriot and county olerkr to lnr6tattha trust $!I&# in their posseeeion in the various recurltieanmntlaned themin. we have RU&I a aarsful ssamb of the statutesand have failed to rind any statute authorizingtba districtau4 oounty olerks to lmwst the trust Sundu in their pO138eedOIl in any swuritisrrof the United Statce Governmentor any other ueourl- tiee of any other nature. we dQ not think that a aiatriot mnorable H. A. Hodgas, Page 3 ole.rk or a county olerk ha8 any paer to imest trwt funds whloh are Lu his possesrrion unless auoh p3war ha@ boon sspasaly or inplietlly oonrerred upn Urn by the lawn of this State. 'iharefors, respotrully tmswer your rime FYVB uestion in ths negative. Aae aa have answered your first c;usetionin thr negative, your sacond c;uestion beoomes moot and raquireir IL0 enewer. Trusting that tha foregoing fully anawora~your inquiry,we are Vefery truly yourr