**OFFICE OF**  **THE AmORNEY**  **GENERAL OF**  **TEXAS**

**AUSTIN**

gonorablc C. K. c'avm?es stateAuditor &uM.n, Tccaf3

Dear Er

.Cavnoset

**We** eoknorl6~iige

reo 1eglll opmion of thle Depart %ng quotation therefrom: tter aekfngfor 8 tea in the fallasdistriots 823 Nos. o-19& verago pro8 Corperation for county, road **trict Pmls.** 

these tW0 0@1iOn8 lsrrs allasituations
on and maintannnee of
we request your opinion 

### ined hewn.

is a list of the State Schools

sity of Texas - B;ainCollege -

Schciol of U.nas 3nr3W3tallurgy - El PZLSO, Texas kertical Drancfi - Galveston, Texas John Scaly iiOspit81 - <;alVestOn, Tt?Xas *Bf;ri.CUltUX'irl

and kl002mniGa1 College - College Station, Tesas *branchesgHonorable C. ti.I;avnese- page 2

Worth Texas Agrioultural College - Arlington, Texas John TaMeton Agricultural College - Stephenville,Texas BrairieView State Normal Collage - PrairieView, Texas *Texas TechnologicalCollege - Lubbook, Texas 'Texas aollege of Arts and Industries - Xingsville, Texae *Texas State College for Women - Denton, Tf3x88 *State Teaohers Collegeeei East Texas State Teachers College - Cmemeroe, Texas North **Texan** State Teaohera College - Denton, Tex88 Sam Houston State Te8oher8 College - Buntsrllle, Texao southwest **Taxes** State Tetiher8 CollegeSanMarcos, **Texae** StephenF. Austin State Teachers College - Nacogdmhos, Texas Sul Ross State Teaohere College - Alpine, Texas West Texas Stste Tesohers Oollege - CanyoU, **Texas** *Bearing in mind that the Ualversity of Texas ati the Agrioultural arxl Yechanioal College both maintain **Bramh** Collegeswhich were oreated and which fun&don differently from the State Teachers Colleges,eta., we ask your opinion
as towhether each of'thebank aacouutsmaintainedby the University of Texas and aa& of its Branuhes,by the Agrieultural aad bieChaniC81 College and eaah of its Branches and by each of the other l3tate Schools are proteoted in the amount of the Five Thousand ($5,000.00)Dollars guaranteedby the Federal Deposit Insurance Corporation. In this conneation theremay be instanceswhere the Ma%n College and one or more of its Branches deposit moneys in the same bank, which would naturally have a bearing On the queetion.

"To be a bit more explicit, eaah of,these inotltutionsmaintains frem one to fifteenbank accounts, themost usual titles ofwhich are:tionorablo C. ii.Cavness - page 3

"1. Oeneral Operating Fund '~2. P'3ttyC8Sh puad .3. Dormitory Sink& Fund v4. Student Loan Pund fl6. Plant Fund '6. Agency Fund.9

We 8re Of the OpilliOn your questionsas answered iu our OpinionsNos. o-1948 and o-lQ49, togetherwith the further exposition contained in the **euocseding** paragraph, will meet your various situations.

Rvvonthough an aououut is oarried in the name of 8 legal entity,nevertheless, if the 80eount shows tobe a trust account, legally chargedwith 8 speoiflause or for a definite purpose, it is 8 separate acaount,within the contemplation of the P. D. I. dot from one **crarrlecl** by the entity in its own right,the deposit being by the institution
or entity in 8 separate oapaeity from that of **Its** general illdividil81

right.
This ObseXV8tiOn is pertinent to your enumerated *Fund* Accounts, oarriedby the various institutionsmentionedby you. **A** separate fund in the sense that it is 8 **trust,** when deposited by the Lnetitution, ia **a** separate 8tsomt. If, however, the breaking dam of the deposit into VlWiOUS depOSitS Of SO-08llSd fU!lIiSiS llISl't3ly 8 lUStter of oonvenienae to the institution, then the rule just announed would, Of aourse, not 8pply. This opinl.on is, to be sure, general in its nature,but it is neaessarily so, sinoeyour inquiry is general.

If a more spe~ifio opinion i8 requiredby you at any time, upon a presentation of the speoific case,we will be glad to advise further.

vsry truly yours
ATTORHi33

GZNSRAL OF TEXALB

**OS-M**