COFY COFY 

OFFICE OF T:E ATTWWEY GZ.NXXL OF TEXti 

;.USTIR 

Gerald c. Mann kprll 8, 1939 

Attorney General 

Hon. Y. N. Darst 

Count Auditor 

Fort 8e ad county 

Rlch~nd, Texas 

Dear Sir: 

has boen 

Opinion No. o-559 

Re: fibat dlsposltlon should be 

s&e of lntkst Datint .bY 

Iour request for an opinion on the above stated question 

received by this orrlce. 

You; ~gtter reads ii part as.follows: 

"In 1923 ?avls k Company had been seleoted by the County 

as depository for the various iunde:ald.had.on dtiposlt to the 

oredlt of seieril funds oertaln amounts-when that lnstlthtlon 

suspended pa-eats, and in :rugust following the partnership 

anl lndlvldual membera thereoi weredeclared bankrupts, since 

which time iantll~recentiy the estates have been in process of 

adminiStration in that court. 

~Davls k Co@any cave the usual deposltory%ond, provldlng for the Payment of 6% tnterest on deposits M&oh-bond -8 

exeou%ed bjra number of sureties. :The officers of the.County 

f'lled olalms with the Bankruptcy Court in a large emount,,and 

oolleoted'trom the sureties a portloa of their deposlts,but 

not all. Xlth the payments by the sureties and payments ~through 

the Bankruptcy Court,Uhe prlnolpal of the olalms, together.wlth 

interest to date &.adjudloatlon, was paid. Reoently the Bankruptoy Court trade a oonslderable paymeet on the interest on the 

olalms accumulated since adjudication. The Correct disposition 

of this payment of interest 1s the matter upon which your 

o$lnlon 1s dealred." 

Title 44.of the Revised Civil Stdtutes 1911, Artlole 2MO 

to 2453, lncluslvc, contains general ~rovisior.s with reference to 

county ddposltorlea. The above mentioned statutes osere In full 

force and eifect at the time t;f the selection of the depository 

of the funds of Fort Bend Courty in 1923, and would control and 

govern the disposition of interest oollected on such funds. 
Ron. W. N. Darst, hprll 8, lQ3Q9, Page 2 

terest la the matter upon which your 

1s desired." 

oplnron 

Tltle.44 of the Revised Clvll Statutes 1911, 

Article 2440 to 2453, inclusive, contains general prcvlalons slth reference to oounty deposltorles. The above 

mentioned statutes were in full tome and effect at the 

t&ne of the ssleotlon of the depository of the funds of 

Fort Bend County ln 1923, and rould control and goverc 

the dlsposltlon of interest collected on such funds. 

&Mole 2442, 'Revised Civil Statutes, 1911, 

reads as follows: 

*It 8hell be the duty of thr eaarisaloaera* oonrt at ten o~oloak A. Y., 01 the tlret 

day of eaoh term, at nbloh, by.~artlole MIO, 

bids are required tc be .meelwed, to pabliely 

open suoh.blds and oaaae eaoh bid to be eaterad upon the aiatatee of the ooart, and to seleet 

as the depoeltory of all the faadm Oc ths oouaty 

the banking eorporetlon, ab8oolatlon. or lndivldual banker, offerlag'to pay the larg58t rata 

OS interest per 8nntmSor eeld faads; provided, 

rl ;ogssloaers* oourt mey rejeot any and 

. The latereat upoa such oounty Baud8 

8ha11be CORmtt¶d UpOtlth dallyba1a#loe8 t0 

the oredlt of suoh eouaty dtb woh depocritory, 

aad shall bs payable to the aouaty trearrurer 

monthly, aad shall be placed to the orsdlt of 

the jury faad or to 8uoh funds aa tlm oomlsalonerb* court my dire&. Ubea eeleotloa of a 

depoaltory has been msde, the eheoks of bidden 

whose bids have been refsoted 8hau be Imaodlately returned. The ohwk.of the bidder who8e 

bid ia aocepted shall be rettuned rhea hi8 bond 

1s filed and approved by the cQpplssloners* 

aourt, and not until such bond 18 flled and 

approred.a 

The faot that the depository wasp deolared ban&- 

rupt would not affect the ~isposltlon of interest oa the 

funds of the county when &ollected and paid to the county, 

t 
Hon. W. N. Darst, April 8, 1939, Pa&e 3 

has the right and authority to detexmlne the dlsposltioli of Interest payments on county funds by a bankrupt oounty depository aa provided by law for the dlsposition of such interest on these fund6 at the time 

the selection of the.depository ~36 made. 

You are further advised that the law in 

foroe and effeot at the time the releotlon of the depoaltory in question was made ~prcjvldes that 8uoh 

latereat should be. plaoed to the oredlt of the Jury 

$unm$ to suoh funds qs the Conmissioners* Court may 

. 

Trusting that the foregoing azkswem your inqulry,~we remain 

Very truly yours 

ATl’ORNE!? CmERhL OF !imLAs 

AW:AW 

&RovEQ: 

By (~Slgned Ardell Wllllams 

Ardell Willlams 

Asalstant 

(Signed) Gerald C. Xann 

Al’l’ORNE!C UENXRAL OF TEXAS