6.59 

OFFICE OF THE ATTORNEY GENERAL OF TEXAS 

AUBTtN 

Eon. Charleg Iaakhart 

State Treasurer 

Jwtln, T8xar 

Dear f3lta 

Your questlana read a&i 

rusym8t ao 

r to question 1 ir in 

the State ‘treasurer 

taulta OS the &ate Treato Seation 6 of Denote Pill fra. X55, 

glslature, whlaln&&set out in Vernon’s 

Statute8 mtler Artdole 5088-l and Eeotlon 

artiole reads a8 tollowot 

Vaoh aseoeietion, not already requirad 

by trl8tlng law8 to do 80, rhafl plaoe with 

the Sate T’reasurar through the &ml of Incurante Comlrsioners a deposit equal to the largest 

rfek aerwetd on any one llts or pmvson, whloh 
660 

Hen. Charlay 'Uolchart, Page I! 

mjr bt in oarh or In tcm+trfIblt 8eOUritit8 

aubjtot to l ppmval by the Board. Suth de-. 

po8it 8htll be liable for the payment of all 

judpientr against the a8800IetlOn, ana rubjtat to gornlnhaent efttr tlnal~ ju4mmnta 

agalntt the a88ooirticn. WJtea ruoh deposit 

beoote8 lmpouadwl or dtpletrd it 8hallat 

once bo repltaIaht4 by the c88aaIbtioa, and 

If aot repltaIshed lmmdIately on denmU br 

the Bomb, the asroolatlaa z?ay bt rtt;arded 

a6 Insolvent and dealt nith am hsrtlaafter 

provI0sd. 

Vhekn any asaoolatlon rhf~ll desire to 

state la advsrtlsemnta, letters, literatuw 

or othtmI8e, that it hae made a dtposlt kith 

the Rae-a a8 rtgulrad by Ian, It must alao 

8tett In full the pu~.oso OS the deposit, the 

aondltloas under nhioh it *8 mde, and the 

txaot amount and oharaotsr thereot.w 

Artlolt 4388, Vernon’8 CItIl Gtatutss, read8 

a8 tollanst 

Vht Stett Trtasurbr rhall rtooirt daily 

frm the head of eaoh Dtp a r ta wtl aoh , of 

whoso .I8 speatfloally abarged with the duty 

of amUng smb dally, a dbtalled llrt of all 

pmnaam renlttine money the ntatur of rhtoh 

Is uudtttmlntd or uhloh I8 araltbg the tfar 

when It oaa flaally be takoa lnta thb ?reasurr, 

together rith the l otml rtmlttanobr uhiah 

the Treasurer shalloaoh and plaoo in hi.6 

vaults or in legally authorlsed dtpoaltoxy 

banks, If the motsrlty l rIao8. Tk6 report 

fraatht General land Cfflot'8halli5aludo 

all mentp tor lnttre8t. prlaoipal an4 lea868 

of school, univbrsity arylua and othbr laad8. 

& deposit Ceaelpt rhail be Isrutd by the Camptroller for the dally total of euoh remittaaoes 

f&Trcgt,p 

c 

rtnmnt# and the oashlor of the 

partmeat 8hall kerp a bash book, 

to bb oallrd ~8uapenre aarh book,* la rhioh to 

eater thsrr'dsposit reotipt8, and any othtrt 
6 

Hon. Charlop Lbakhart, hgt 8 

ISSUCd for oash ZWOsIvtd forwhloh no dOpOSIt 

warrants oaa be 108utd, or when their Istutnat 

18 delayed. As 80011 68 the status of aonoy 

so plaotd nlth the tieasurer on a dtpoalt rta8iSt la aetrnlnod it Sk11 bt trasmfbrrbd 

irOn the sucptn8o aooount by plaoiag the Rortloa of It btloaglng to the State in tho Areaau- by the Inau8noe of a depotit warrant, and 

the pert found not to b:!lone to the State shall 

be refuadod. Khan deposit warrants are Iaaued, 

they shall be tBtert4 in this sash book, as 

well (18. any rtfuada, and the bslantt Shell rtpreaeat the a-gate of *he .ittRS 8til.l in 

smptnat. l;eruid8 shell be roadt in a manor 

aiallar to that In present use, oxotpt that 

stoaratt series of warrtats shall bo wbd for 

making 8u0h rtfWd8, t0 be Otlled 'rbfwd wtrrat&B, and SUOh W8lTantS Sba11 be written md 

slgamd by the Ccmptrellor and oountor8ignbd by 

tbr? ?'reasurer and ohargod e@aimt thb su8pomb 

funds to whlah they appl 

E* 

Buth wavaats shdll 

then bo returned to the a&qtroller and de-. 

1lvertd. by hln to the person o.ntItlbd to rewire 

thtn.* 

&Ids that sro plaatd In the "8uepen81on l ooonnt* 

of the StRtb l'roasury by steto offIoIala aotiag waler Artlolo 

4388, rupra, oaa only be drag oat or mald aoaount when ma 

In the manner pmeorlbtd by said artlalo. Thfzt 18, as soon 

as the status of oont so plaaed 18 dctsmlaod, when It l hnll 

be f~nSf~I?Od, If be I 

State Masurf 

onslagto the State, by dopOSit lathe 

and If rouad not to belong to the &ate to 

be rtiundod. fn tither oaae th8 method 18 by warrant Signed 

by the Cozptroller rnd oounttrslsmd by the State lltarurpr. 

The artlolo IS l %pliOlt In rbqUiriag the tmnsfer to be mad0 

as SOOn a8 the status of the ueaty is detonainod and not betom. Clearly the word w8tttu8a Inolud88 rvery osaontIal 

?aot to its pmpor dlspo8ItIOn, fra3 the rltwpoint oi the 

State tieaeuror, Its thta OuatOdiaa. ff it Should belong 

to the State It must be deposited In tho Tressury by mOen8 

of a dopoalt warrant. If It does not btloqq to the &&to 

It oust be rafuaded by mmns of a refund WsrTant. AlSo ate 

the easta of Daniel, at al ~8. !3Iohareok, et al, 118 t3W 2nd. 

9S61 Ex ?nrtt Stephens, 94 SW S87. 
66: 

Hoa. Charley Xookhart, Page 4 

mt dOpOSit I!3tdb Udtz %OtiOn 6 Of ktiOi0 

8068-1, N9r#l, $8 iOr the prOttOth of the pub110 @xiorally, and swh dtpOSit8 ara lIablo for the payment of 

all the judf5rentr against the aasoolatlona, and sujsot 

to gamlahuont'after final judgment agaiast the asaoolat1oA. 'Iht dtpo8ili8 or no pert of thou ba10~g to the 

State but are plaoed In the State Treasury by virtue of 

ktiolo sOa%-1 la truet as a apboial fund for the pur9OWS Met Out b lMI6 Statute. 

Artlolt 4374, VorAoa*s CItIl Statutes, roads 

a8 fOlbW8: 

'All rtOAty8 reotIvod by the Treasurer 

ahall be kept In t!lo SaibS aAd laultr of the 

Treasury~ and the Treasurer ahall not keep 

or rooslvo into the bull&IA& safer or lau1tr 

of the Treasury tny aonty, or the re 

of Bcaey, bolongIAg to aAy indi~id~ r 

osontttlrt 

oxoept 

in 06808 4X9MI81y 9rOVIdtd for by hU) nOr Shall 

aald Trcamrer appropriate to his Own usa, or 

lend, sell or oxoha~do any r"oAey, or the rbprbSOAtetiVt of monry, In hi8 ousto4y oz control 

an auoh l’maaurbr.* 

Yau art reaptotfully advioed that your first 

qUMt:OA shotid be answered ia the M@itiro and it it SO 

amwerbd. 

IOU l rb further adrtbtd that tuth fUnd8 Shtu 

bt dtp08ittd in the &ate Troaaury In a spoolal fund ior 

the 9ur90808 ptatidtd in Eeoti0.n 6 oi Artlola 806tW, aad 

that suoh f-8 shall be~kapt or roZMiIn la the vault of 

the State Treasury. 

TrustlAg that the fortgOing fully En8wora ycur 

lnquly, we teamlo 

fOUl’8 Ytw tr\lly