OFFICE OF TtiE ATTORNEY .GENERAL OF TEXAS 

AUSTIN 

Ronoruble JBSBG 

Strts Treesurer 

z‘<ustln, Texas 

JeEWe 
,.. 

. ’ 

‘, 

prooent Banking Coidaaionor he8 reeohed the 

oonalueion that tblrr was ,In error8 tharefore, 

that depmtment no longer vxereieoe rruoh / 

powers. 

w3urirrg tha time the Benking Departmnt 

~erercl.seO eq~rrvlslon over ssaarltifn deposited 

under Article 696 by tbc Greet haeriann Life 

Underwriters, Ino., 

to $1oo,qoo.oo u. z?,. 

the dcpxslt ua(s ~nareerred 

Treenury Sanlc sncl thrse 

bonds have been ~nitMr%wn until the prfrtnt tiepoeit ia cmqoeod of the iOllorpinc: ecourftias: 

Virelala publia 5ervlo8 Coa10,00&00 

ge~e,Sinkiw, Fur14 DeU. 6. 2&i Treasury Bonda 

25,OitO.OO 

s.ooo,oo 

Q190,000.00 

- 

Ia 0rUw to detew0 the dutlu *b recrpfanti- . 

bllltler of the Sk$e Trearurer in tai8 oenueetion, we ktoaly ask ror 8n ~ploion 00. the fsllouine polntsr 

ml. 3i4 Sonsto Bill plo. I.65 and eamndms#nta, amnd Artiale 696 anil gfve to the Baakin& 93partme.nt tlw power or e~th!2xlty to RupexV~SP the Uepoeft and withdrewrl of 66tSWit186 

placed ~&er i>SoViSia of' i;rti.ole 6961 
-2. S~inoe the Sttts Troatiurer haa ix+ 

method of 8eouring the umrket value of the 

seourltlas llOw OXI deposit undar .Artic1e 696, 

4xOept fro% the 36rhxii0 4xt?dniitio;n of the 

ebore Ore~t fm6pioeo Life Ux&mmltsrs, Inc. 

by the State &inZlne 3cpertment, do ys+u oonsld*r the eboved as aaoepte’Jle oollatsrrvl for 

the pmteotlou require4 by Lhd- atr.tutoe governi.AliJ suob deponlte? 

“3. Ts it; neoesecq for the SLtti ‘i&asu2er to obtuin tht, writtm trpp-oval of tbs Attorney Sener:il of all srcwi5ties depo?~ited 

under Art&lo 696-i 

n . ...*” 

Article 695 0r tha BevIsed, civil statutso or 

Texae is au follmm: 

%bb aorgomtion. ooapany or lncllvldual, 

doing busincea in thin State a~ a bond investrsant ocmpany, or conp+ny to plsca or sell bonde, 

Obdiiti~SteB OF dabsnturw On the partial, pw- .~ 

aeat or tns~alltaent plan, ahal& depoalt with 

the Stats Trrasumr, in ~traah or 8ewrities approveb b aaid Treaaur~r, the 5w.a of dive tbou- 

#Uid 00 J uXS, aAd hi&l, bepO5it •~IZ&UUZUU~ 

rith mid Treesurer, in oad or 1340uritAs8, to 

be approv&l by mid oiilaer, ten per oent OS 

all ,pat predunre reeeilyad until the ma deposited 

utaouota to ode ‘hundrcnl thoumad dollnra. 

Aotta ltB$P, pe l18; Ip. L. Vol. lo,, &t 1172.” 

mtmb b99 is 8~ r0ihw0t 

%A request of any such ooapeng, the Stats 

Treasurer is euthorized t.o pera2.t auoh oon~ 

to ln~erdwige oaah ior the neaurltiea or seeuritle5 r0r tha oash dapodtaa by ruoh oonpaay 

under tbe provleiom oi thie title with mid 

Treasurer, such sQourltie8 alwaya to be spgrOVe4 

by seld Treesurer on the mltteri advtat of tha 

Attofpey Genersl. Rota. 1901, p 282.” 

The only part of Smete ~BZll No. 165 fin& mendmGAtS tfi4x4t0, ?thiCh iS ~miOl4 152&i Or v0h~A’B hnnOtat48 
Tear Bktuter,, that thrws any light on the qW&lc%i arked 

by you 1s the tollawing part Of Seotlon 7 or said AOt: 

*. . . . . 

"f-l1 sash or sscuritite left with the State 

Trewurtr ia co~qM%aae with Lrtlol% 696, iteviaed Clr:l Stetutar of 1.925, ~hali he coosldered 

aspmt ai the coltaterel rripuirsd ualer this 

Beotibn." 

*. . . . .- 

It ie tfle .opinion of this doptwtmebt, thereTore, that c;u4stlod NO.. 1 asked by you should b4-eAaR4rti 

ia th% Aeg6tiVe I&n4 No. 3 iA the 6ffiXtS0t~V%~ we UliW 

unable to definitely XUUWAP qubstlon Ho. 2 arks4 by jiou, 

rOX the C%(LBOII that this tiepUtm4Ab h&8 110 iAfOnOatiOA ,. ’ 

as to the mlue or the r%rloU cewtitie~ lidte4 by $! 

you, but it 1s the O~~A~OA of thlp departmeat; t&g&& ‘: 

w%b iateadsd by the pasaaga Ot t&i8 law ‘to reg1&6i the 

4Oapanlsa eir40teu thertrby to napsit eQourltees that 

ha& an a4tus3'sAlu4 or tb4 ewm reqtimd tbersbjay. Xf 

the vclluati placed GA &ucrh s%our1t1%% by the &skfRg 

3%pmtAent m.mot be relied upon and yuu desire turbhsr 

intoxmation la regard th%r%to, 0ot);e way 6hQUld be fOuad 

to detershe the value of wm%. 

Trusting that tkle satisiaotorlly answofa 

your in~uhy, we are 

JPIEl:dbrvde 

w /i/ Jas. ‘PT. narlett 

.A0aiiMiAt