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Mr. 0. P. Lockhart ~inirm .No; 0452o
Chairman Authority of a Ll0yaS
Board of Insurance Commissioners COi&WlJ' t0 Write &WOFOSed
Austin, Texas bond submitted.
Dear Sir:
In your letter of iru:ust 9th, 1943, you submitted a
copy of the i:rtlcles of Agreement of the South Texas Lloyds
of &MU, Texas, together with what is designated a “Guar:?nty
payment Bond,” which that company proposes to sell, and asked
our opinion whether under ‘Chapter 19, Title 78 oP the Revised
Civil Statutes of Texas, the company is authorized to write
such insurance. Under date of August 2jrd, you submitted a n~ew
form of Articles of Agreement which the underwriters at the
subject Lloyds intend to execute and file with your department.
We shall, therefore, confine our opinion to the legality of the
bond under the proposed amended articles.
Under the terms of the llGuaranty Payment Bond,” the
Llnydc Cr.m>;rioy n:.:ert.- II