**OFFICE OF**  **THE ATTORNEY**  **QENERAL OF**  **l-E= AUSTIN** 

Honorable Wallace Soott Seourltle~ Conulllsslonar **Secretary** of State*e Office Austin, Taxer

Dear

### sir:

lers* Lioenae Act?
requ,mting enopia**ea 18**  **herein otetaa**  har been reoe
**tar ea**  **r0110ws;**
**this** office requested ment as to whether Hanaook **hwxil =a** 

**n No,.**  **o-19e5, rtetea:**  **prorlfalons or**  **the** above **man** t

### a0not apply to, **ana** the eal F$statc Dealer” and “Reel Estate Saleman= as above **aetinea by**  the **statute, a0**  **not inelude**  **any person**  **or co5pwly**  **who,** a8 owner or lessor, perfonrj. any of the act8 eet **out in**  **Seo tion**  2, Subdivision {a) with reference**Honorable Wall800**  **SOott, Page**  **2**

to property ownedor leaoed bythem, or to the regular elz;loyees thereof with r+ierenoe to the property owned or leaoed bysuch person or coqmy where such acts am performd in the regular **course** of, or as imident to, the manage;;ent of such property and the investment therein, unless such perecn or ooclpany is engaged in the bual>.ess of buyfng, selling, exchanging, leasing, or rent.lng ar r,ropTrty andholding hlmaelt or itself **out as**  afull or pert-tLne deal.er in **ma1 estate.**  Wsbelieve ?hat the buying, selllrg, exchanging, leasing, or xentlng or property obtained under foreolosure proceedings bythe oo.r,paniea above namedor Like oompanles **would** be **acts performed**  In the **regular course**  of, or as lnoident to, the managePrent or suoh property anbthe lnvestaient therein. ~Therefore , youare respectfully advised that it in the oplnlon of thie department that **the** John **Eancocrk Eutucll**  Insurance aoqany and the Jerferron Standard Life, Health and**AaoiCent** Insurance Coffipanyand **like oo&panles**  **when** engaged in the above luentlxed **acts would**  not be subject to the Real Zstate Dealers Lioense **Aat.*** “This **depertmnt** would nowappreolete your opinion as to whether or not the execlptlon fn **sub dfvistsn**  **(a) of**  **Saatlon 2** with referenoe to property ownedor leased bythes or to the regular effiplcyees thereof with **reference** to property owned or leased bysuch pemoc or ompany where such aots are prformd **in** the **regular oourse**  **oi or**  **aa** pertaining to **the** management of such property and investment therein extend3 to the negotiation of loans bysuah company. You state in your opinion aa Quoted abeve that suoh oonpaniea would not **be** subject to the Act whenen&aged in buying, eell**ing,** exchaiiglng, leaalng or renting of property **ot~:mined** under **Ioraoloaura** prooeedln~:s by **such oom**  **Qany**

**.**Honorable Wallace Soott, Page 3

%ueh ooliipanias in ad&ition to the act:vi ties referred to in your opinion **quoted** above are also engage6 in the solicltatlon of loans, the mney lent being lltoneyof such cozr+aoies. "he would, therefore, **appreolate your**  aa**vice now**  **BY to**  whether **by negotlatisn**  **of loans**  of their owneoney, they **become**subjeot to the Real E&ate Dealers' 

### Lioenne **Act?"** Theapplicable portlohs OS**Howe** Bill No. 17, aa passed bythe Forty-sixth Legislature, aol;z~only known and cited as "The Real.Estate Dealers' License Act" are **quoted In**  our opinion No. O-1925. Vieare enclosing a copy of this opinion andwill not quote the applicable portions thereor **above referred**  **to.**



### GpinionNo. O-1925, su~ra, holde ~that the buying, aelllng, exchanging, leaslhg, or renting of property obtained 

### underforeolosure prooeedlhgs by the companies above namedor like oor;panles would beaots performed in the regnlar course, or a6 inoiaent to, the management of suoh property 

### and the investment therein 

### and that the John **Henoook Mutual**  **Insurance** Companyandthe Jelferson Standard Life, Health andAcOibnt Insurance Companyandlike companies whenengaged in the above mentioned eats would not be aubjeot to the Real Estate Dealers1 License Aot.

IF.the request wenowhave uoder oonslderation, wehave a question alfferent fro&ithe question presented in the original inquiry in Opinion ?;o. O-1925 and one that wasnot passed uponin that opinion.

Subtilvlsisn (a) of Section 2of House Rlll No. 17, as passed bythe Forty-sixth Legislature, aupra, amongother things spaoifioully provides that:

"The tern *Zeal Estate Dealer' shall lnelude every person or ooppany, other than a salesz.an, and licensed and registered attornws. whofor another or others for oortipensation or other vai%able consideration,

. . . negotiates, or offera, or attempts, or agrees to negotiate aloan, secured or to be scoured **by**rrortgage or other ineubrance u9on the trszafer of raslestate:

. . ."Ronorable Wallace Scott, Page 4

It will benoted under the above quoted proVision of Aoxse Bill 1~0. 17, **Acts of**  the Forty-sixth Leglslature, supra, that the term "Real Estate Dealer" inoludes every person or oompsny, other than asalesman, andlicensed andregistered attorneys, whofor another or others for compensation or other valuable OOnSiderati~m, negotiates, or offers, or attempts, or agrees to negotiate aloan, secured or to be seaured bymortgage or other inoumbranoe uponthe real estate are lnoluded within the definition of the term "Real Estnte Dealer". 

### Weare of the opinion that sub-division (a) of Section 2of House Bill No. 17, supra, olearly doe8 not by **its** terms **Inolude** aperson or companywhonegotiates loans of their ownmoney.

Therefore, **your,** question is respectfully answered In the negative.

Trusting that the foregoing fully answers your inquiry, weare Yours very truly ATTORREYGENERALOFTEXAS ByeoA Ardell Wllllame **Assistant**

APPROVEDJUN7, 1940 Ul3---+/ ATTORNEY

GENERAL

Or'TEXAS

**COMMITTEE**