OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
loaorablo Ooorm 1. Ibrppard
Compt~ollar of mbllo Aaoouuta
Alutlo, Texar
Dwr 8lr1
firn, or corpora-
BankM or the 8tats of T0x88, rho purrws ths
burlarm of tinding moaoy, puro&rlw ux.arl,s au
taklo(l for seaurlt$ for ihi pnynnt Of swh loans
thereon
a nd inta r er t a n lr slq r unt 0r ua g o s
o r a s-
signmat of rqgor vlth ?ovrr oi Attorney to ool-
leot the maamor other order for unpaid ohattol
mortgage or bill of sala upou household or kitchen
fui’olture. ’ ~Emph8sis added)
“OCn”“~~” .-.-,- I . _^ __ -^I --_..__ ._ --_._-.._..-.. --...._. .._ .-__- ..-_ -.. -..- _..
iionorabls Oaorge 1. Slnppard, pago 2
Thm l
mphao1o.d portion of tb forogol~ itatute
voo lnoortod by aa wnduat of the 49th &glaIature, 1945,
boio( Choptor 195, Seotlon 1, Aots 49th La(;lolaturo, Pam
266, lrfoatlTo not 11, 1915, thuo Ohrrglo(( the r0rvr doflnl-
tion of a haa broker bt the lulurioa thorofra of ‘a louI-
leg Iaotltutloa oubjut to ouporrlolofi o? lzruiaatloa b the
-putmoat of &a&l- of the Itats of TOUS. Arttiolo i 169,
hod boon oonrtruod prior to ltr emoadmoat la tho
bubdlrloloa 48, Artlole lJO2, Ravlood Civil IStat-
utoo, IO 00 f0110~0$
lad lmd
'To lo o mulo te money without bmk-
11lg or dlooouatl~ prirllrgeo.@’
8abdivIoloa 19, Artlola 1308, lo lo lollmor
vor ear oao CP wro of the r0110v1ag glp-
poooor To uotmmuloteand leql WWJ, pwohoeo,
wll aad deal in uotoo, boado end rouritioo but
without boaklw oad dlooountl& privll~~eo~ ia
act 00 truotso under any lawful srpross trust ouri-
mlttod to them by aoatrut rml am agent for the
porfomanoe o flny lawful sot."
bubd1r1010n 50, Artiole 1302, 10 00 f011or81
@To ouboorlbo for, purohooe, lnrort la, hold,
own, lostgn, pledge aad othervim deal 1~ and dls-
pose of shares of oapltal ltwk ,bonds, mortgogos,
dobontureo, notoo and other seourltlos,olllgo-
tlons, oontracts and srldenccs of indebtedness
of foreign or dosestic corporations sot competing
with oath other in the same line OS business; pro-
vided the potters and authority herein coafsrred
shall in no vay affect l q provlsloa of the antl-
trust laws of this State.
Article 1gojb, v.fi.c.a., 1325, (Chapter 275, Aotr
40th bgislaturr, lYii'7,pago 414) is OS fOllOWSr
*A prlvatc oorporation ma7 be formed iOr aa7
one or 8orO of tho f011091llg purpomeo, v1thout
or msurowo
b a nk ing rlrilops: to lcouulato
lod lore motmp; to SOP 1 end deal in notes, bonds
and seourltirsl to act as Trustre under 8og lsv-
ful express trust committed tf,it by cmtrsct or
c
708
Sonoroblo Ooorgo H. 8hoppard, wgo 3
~111, or under lppolnt8oat moue horing
OS say
jurlrdlotloa of the oubjoot mottor, and so lg a nt
for tho porfomonoo of my lovful mot1 to oub-
oorlbo for, purohoe, lavoot In, hold, 010, oo-
alga, pledgo aad othervlw deli la oad dlopooo
of ohoroo oi oapiul ltooko, boodo, wrtgagmo,
dobmtroo, notoo oad other uourltlro or obllw-
tloao, oontruto aad lr ldo a o of
o o Iadobtodmooo
of forolgn or dmootlo oaporotlono aot empet-
lng with luh othor la tho ouo 111~ of buoInooo~
to borrow BO~UJor loouo doboatwoo for oarryla#
out onf or 011 purposes &ova lnworotod. Pro-
vided thbt tho povrr ad authority horalu oon-
iorrrd -11 10~no r*r a??eot ur~~o? tho porl-
010R0 of tho anti-trust laro of this ltoto.”
Artiolo 152ha, V.A.OA., 1925, IO 1u port 00 fol-
love I
so. 1. This Aot -11 ubruo oorporo-
tlono horotofore oroot~d horlag for tholr pur-
pore or purposes any OF all of the povoro nov
luthorloed lo bubdl~lolono 48, 49 or 50 of Artlola
1502, Revised Clvll Statutes of %x80, lY25, and
herrtoforo or horoaftar croatod harlag la rho18
or in port any purpooo or purpoooo nov outhor-
lood in Choptrr 275, Sonata El11 gukr 232 of
the Oonorol and Spoolal Uro of Uw Rogulor SOS-
olon of the 40th tiglslaturo. ...
“sea. 2. The Buiklq Coamloslonor of Texas
shall examins or cause to be examined such cor-
porations oonuall~ or ofteuer lf hs dsrms it nec-
osoary. ...
“sec. 10. Ths provlsloas of this Act shall
apply to forclga corporations vho have hsretofors
been granted permlsslon to do businsss Ln Texas
and rho ma7 hrrraftsr be granted psrmisslon to do
buolnoss ln Tour and having am tholr purposr or
purposes soy part OS the provlolons sst out In
sootion On8 or this Act. ltvor~ forolgn oorpora-
tion ha+lng such a permit to do buslnsss Ln thls
Eonarable Oaorge II. Shopped, page 4
Stat. ohall be oubJ.ot to tha lrulaatloo of the
Ronking Ca8.loolonor of Tons lo tho oam wnner
la dunder tho oou terms old OODdltlOOOam ox-
ulnotloa of dawotlo ooqmrotIono. ...’
By tho tons of the forogolag laglolotlro oruot-
unto 8nd portloulorl~ tho 1945 anndwnt to &tlola 61654,
mupro, both draeotlo mad forolga oorporatlooo lnooroporotod
uador oubdlrloIono 58, 49 mad 50, Artlolo 1302, R.C,b., 1925,
and Arttolo 1303, V.A.C.ll., l925, arm sub rot to oxamino-
tlon by thr Doportwnt of Bmuklag of the 8i 8to of Toxoo, 8nd
honoo do not oome vlthln the deflnltlon of loma broker am
dofined lo Art1010 6165a, V.&.C.b., 1925.
buoh oorporotlono ora therefora not lubJoot to oar
of tha lava o?toxao govornlng looa brokers md pmtloulmly
Artiolo 6169, (aootieao 2 to 8, ma.) V.A.C.~., aad o&b-
dIrloIon 14, Artlole 7047, ItAb., 1925, mad tho oaouor to
your qu00t1on 10, “SO.”
““~hOZ .oolstont
CHRtdb