OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
Iionor~blcJ. T. :JcZllin
Deputy Canking Cozx;Lssioner
DopxtLsent of Dankin~
Austin, Tcsns
Dam Xr. :iciii.llin:
this applic2tion
on was ra30 by ma
ter nnking tkts
report to the Dank-
rtor a.5 oppU.02 for. Uoo-
the charter 03s Over dollv-
rinkor its incor>orntorsa-xlno
P Authotity was ever issueclor
delivered. I m arklscd that tho bzuR!Z never
opomd for business end iucurrod no liabili-.
tics cscopt those list& in the attachM afffi-
&wit, which liabilities have boon relcsscd
as &om by the ottaohod letter siznkl by the
crctitors nhmo(l.
"The stoc:&olr?crsof tlioban!:h7.v~ur,ani-
~ouely ogro,tinot to accept tPs clxmtar as
.. -.
AL
Kanorable J. T. AicXillin- Page 2
@%ntcil mcl hnvc roqxstcd that the resolu-
tion of the B&n; Board bo rcscindocl.
*It is the p~~rposoof tho incorporators
to apply for a batiichartor under the Nation-
al Id&in:: Act and it is their dccirc, if
possibl0, to avoid liquidating prococdings
3s provlcloci for umler Articlw 638,mil 540.
*In view of thefacts, please Ul-
abovo
pig3 ac chcthcr or not it ‘is wXt!;inthe legal
authority of the 3kan:ini;
Coard to r=scinC Its
rmolution ,grantingSUCh cixxter, imclthereby
rovoko such chartw and enable the incor;;ora-
tore to recover the caI&tal paid in by the=
unclcrtho applicationfor charter.a
It is our opinion that the Banizin~BoarrlCoos
hnva the authority to rosoiti its action in authorizing
the chzrtor for the Croa&my Wnk, Alaz~o iIci@~ts,Texas,
un4er ths facts statad by you.
Ordinarily, the official action of cn cxcutivo
or a&dni.stratlvo officer or board of the Strte c:zybe
Eo&fied or men rescinda& by such funotionary,in the
absence of som vcstd right having attached by ro;Lson
of ouch act. It is oitiyvhcre rifits of @vat3 pnrtiee
have bccoue vested t&t such agencies or successorsin
office are forbiddon to revoke such action. L3iCIlW nros.
v. mrr'6, 273 Se V. 7SO. The executed instrments rofcr-
pea to by you ss being attached m-e not attzdzcd; honever,
we are assuming the Pacts to be as stated by you.
A~FROVED JAN 22, 1941 Vary truly yaws
JWL'ORNEXGF;NZ,RAL
OF TX.""
&&i-&k/ (,
,ATTORIiEY
GEXZRAL BY
Ocic
&& L) or
Bssistant
OS-LiR