**OFFICE OF**  **TtiE ATTORNEY**  **.GENERAL OF**  **TEXAS AUSTIN** 

Ronoruble JBSBG Strts Treesurer z‘<ustln, Texas JeEWe,..

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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%wnuntil the prfrtnt tiepoeit ia cmqoeod of the iOllorpinc: ecourftias:

Virelala publia 5ervlo8 Coa10,00&00 ge~e,Sinkiw, Fur14DeU. 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 **fsllou** ine polntsr ml. 3i4 Sonsto Bill plo. I.65 and eamnd**ms#nta,** amnd Artiale 696 anil gfve to the Baakin&93partme.nt tlw power or e~th!2xlty to RupexV~SPthe Uepoeft and withdrewrl of 66tSWit186 placed ~&er i>SoViSia of' i;rti.ole 6961**-2.** S~inoethe 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;nof the ebore Ore~t fm6pioeo Life Ux&mmltsrs, Inc. by the **State** &inZlne 3cpertment, do ys+uoonsld*r the ebovedas 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 

### obtuintht,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 

### StatsTrrasumr, in~traah or 8ewrities 

### approveb**b aaid**  Treaaur~r, the 5w.a of dive tbou- #Uid 00 uXS, aAd hi&l, bepO5it •~IZ&UUZUU~

J 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,

pel18;Ip.

L.Vol. lo,, &t1172.” 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 hnnOtat48Tear **Bktuter,, that**  thrws any light on the qW&lc%i arked

by you 1s the tollawing part Of

### Seotlon 7 

### or said AOt:

*.

. . . . "f-l1sash 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,**  **there** Tore, that c;u4stlod NO.. 1 asked by you should b4-eAaR4rti ia th% Aeg6tiVe I&n4No. 3 iA the 6ffiXtS0t~V%~ we UliW unable to definitely XUUWAP qubstlon Ho. 2 arks4 byjiou, rOX the C%(LBOII that this tiepUtm4Ab h&8110 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%biateadsd by the pasaaga Ot t&i8 law ‘toreg1&6ithe 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** 

### relieduponandyuudesire turbhsr intoxmation la regard th%r%to, 0ot);eway 6hQUldbe 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