OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
Lhrch 29, 1939
~wsIIL~.,:of :;rticie1529 or 0~ stfitutes. xe have
oaly 03x2Tcxcs cam on this -pint, City of San
:~tan:o V. Sr:ivc:tion
Jxrzy,12 5% OGO, nr.18
that
aase :n of little help, for the Pacts ore tio re-
:uoteDori the :>rencr&sltut&io:lto throw any ll@t,
cm our >roblem. Yhe Oi-.lahomCorpcratlon bns a
CXp1tCX.l stock divided into four hundred shame,
4th r-. per value of five doll-a eaoh, It 1s al-.
lowe& to earn nn night per oent Soak dividend or
six per cent ossh aivldend per amum. Tl~oaed.lvl-
dendJ3areQaldto owMraoratoolsk,sarps 0rwb
lpaynnt bouser8oftJ.wolootrlo powarrurnl8~
bythla aorparatlcmr
Tha to6t pmmul@ssd la. ld Oorptm J&a,
Corporatlona,8eotlon Sl,l8tbatitmahamet~
or ohms lo datexmhodbytb powem aonforrod~
It by lta oharter -artlolo8 or oortitieato at in-
oclrprat1m wbn lormed uaor a general La. :&I
examln6tlal of WI0 6rtlolea pr$6enen to ua eon-
Ylnoos llnthat the aouthw& lmotrl8 Go-
operative Isaraatedibrp4mnlaryprotit far.
asldo mm other boQorits, It aan rw8ela ba
arpeotbd and IS permItto& .to etaxndlridonds ror
its etookholdm or mombm.
Sgoapdly, you iiakIf a pralt miy ba
IseUed to an elootrlaal (loOp6r&lm organid ior
ptmuniarp profit.Artlal*lsaobor OUT statpt69
pr0ridei3ourrul.08
r0rawia rum%eaumi-
iloatlonooopratlYkl
aaSpomltlcm. Th4 utatute..
lpaks0n0pnrriafoJIt3rorthe
0wftnoeora ahim
iorelgn oorporatlonloto'Taxam. liovmm~r,it -6
not pwhibdt su8b anonWano~.- ApelerLtmybe
issuedtheraI tuttbeymuatuome in undortha $ea-
eralru3130rthh1 atea relatkytoa rarolga
oorporatlon.
Your me& qutytlon alma aoka ii ArtI-
cle.lSO may be disregarded bygrant%ng a rare&n
oorporatlon, that does not have rirty.wr omit or
Its aapltdl &oak subsarmed, a germIt to do bu8i-
neas In Texas. We rempootfullyadvise pau that we
find no authority, statutory or otberwlse Mat
t!:1s2-0:~
iire:‘;Bnt.
In view cr our atmserb to rueatlonp 1
~6 Z, of four reqi;est, we to not think It nccem-
stay to unswer questions 3 and 4.
You are heruby aWlsed that underthe
..
.,.i
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Untitled Texas Attorney General Opinion
Combined Opinion