OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
Dou sir1
multr tfuroto aad f
tMn8 io r th eo p a l
or r0-0trting JOP
jority of vhooo
rtorrr *hiah
, and aorporaticm
oak, &Ildin vhlca
8 trwtu undu an
tO8 8tOrU 8UbjOOt t0
VI lO th 0OtwO8 Or th 0tV0
OtbtUU48fnglOdi4illt
by virtue of a power of attornoy
O?fty o ftho 8tOOk Inlooh OW-
h8 rOW 8tOIW8 b0 t.OXOa 88 0
xn our opinion IO. o-2764, va held that vhem tb
I- @‘OUp Of ~W8Oll8 VhO OOIhtrOlhd th@ ItOr. Oi 8 ~tfMP-
8bip al80, by D8jOrity 8tOOk OVlMrlhiP, OOJltFOlbd th0 8tOP88
v* Mate, aot frt sported.
8ootioo 6 U Artlola lul-d, 1. 1. o., tha awn
btoxw Tax Lav,rud8 w folloYrr
%o pOV181OU Ot thI8 Aat #h411 be loa8tru.d
to q&+4 to OVUM pu8on, agut, ?*oolvu, truotu,
tirrr, ~O~pWatfOa~ ~Op~~~8hip W l8#OOia tfOXI,
WXhl’Ol&d W
Uith ~OtOi@lAO~t0 w8 8OOtlOIlth. OOWt in th. Butt M8l,
8U&lFa, OrId;
‘9.0. 6 VU MIlfiO8tl latondod to protont
luge ahaIM of otomr, vhroh reoelve tha boneiltr
a omoll MMgeMnt w OoQtrOl 0t.r a n?m-
E” Y lndltldlal unftr w 0 oMt1oIla t& olou
purpou of thm lu vould bo do
“p orted.”
Vhik, in UfthU Oi w
tV0 fbOt OitWtfOM ~.8Old-
ld b7 Lou, 60.8 tho aam Individual o? &roog OS indivldwl8
OWlI tb MjWft htOFO8t iJ& tV0 OO~P~tiOAO, mt &A lreb Of
ruoh f4Ot 8:tW r 10118the 8U&@ Individuala br. tha UltiMt.
OOIkt?Ol Ud ~OMnt Of rU thr 8tWW inVOlVOd. @I th. Ow
hand tvo ladlrldwla ova l 8a Witr Of tb 8tOOk in om oar-
porrtlon, 8nd tho aam tvo in a, rldwlo oontrol the rjwltt or
8tOok In the other bJ vl?tw of OVIUP8tiiip of one usd 8a lr-
rovoabblr trwt la vhioh the other I8 trwtro vlth lbrolate
Honwablr &w&e 1. PhrPWrd, we 3
ovor to WI end OOntPol the 8toOk l8 tmNter. Oa tb8 other
Ln d On. Iadltldurl 18 8Ob OVBU Of tV0 8tOr.8 UId OOZItrOl8
tvo othU 8tOr.8 br VirtW Of l 0V.r Of lttO?M Jvlq b lB
ruoh lthorltr’. Thue I8 no dlfR ranoo in plaolp flu in lltbu
of th88. O&8.8, from the Butt Oa8e. The oontrol r&d mnAgr-
8ont in r&oh 0480, I# jU8t l8 lffOOtiVO, and jWt a8 Un&'&IlVO-
oal a8 ii tha oontrol ouo rooou#rh8d by wan8 of ujorlty
8tOOk OVM~8hlp, Urd ~0 think it I8 jWt a8 lff8OtiVO4 OOVOrOd
br th8 8tatUt8. It fO11OV8 thAt, in 8rOh Of th. frOt rftUb
tionr prorented brpu the 8twrr Ue Wteblr a8 l ring10 ohain
and that each Of 7OUr qw8tiOM mU8t be U8V8r.d 10 t& 8ffiPm-
at;V8.
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