The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-04-03
VETO BY THE GOVERNOR.
Senste Bill M. IS Returaed With
out Approval.
DIRECTIONS STATED At Length.
IL Provides for Acceptance of Guar
anty Companies on the bonus
of Public officials,

Austin. Texas, April The following
ye.o message was received by the 'es's-
lsturs from the governor this morning;
Executive Office. April :, 70 tie senate:
Senate bill No. SIS IS herewith returned
without approval. The bill seeks TO Aiasna
articles CAL end 642 Of the EeNlsso SAL
utes, providing for the orsafi"a u pt.s~
corporations. In the main II 10 q is-s-sl--
ment of these articles. adding Only g iv"
purposes OF corporation, YET IN oiher ~
spccts il materially amends the present
law. Several provisions OK The bill impress
me az Of questionable expediency anu WE
dom. but only cue viii be ooasia=Tea-
Unte- the existing statute regulating me
formation Of private corporations tSecton
AZ. article 6t2, Revised StatuIes), they raAy
be termed 10 act as trustees. sssiSAeeS OF
receivers when appointed BY AGF iAFM.
CORPORATION or court and 20 DO I gNfFAl
fiduciary and depository business 70 ast
as sure;ies aud guArzatoFs Of ths talei-
ity OF employees. trustees. executors. a.
ministraiors, guardians. public el9elatS'
and others appointed TO or assuminS M
performance q any duty or trust. pcnAo
or private, Nudor appointment ~ a1y
court or tribunal or under contTleia t.
tween private indi,ituais OF corporations
on any bond required in judicial I'.-'e
iuss. and 10 act IS executors ~ ttA-
mentary guardians. provided. that when
any bond Of an Executor, atnlniFtr Dr OF
guardian, or any bond f. judicial no
ceediues. or any bond required 20 b. i-ei
BY any public official Is sisae4 - = cor
poration organized undcT the sA'Nfe
deeuei good security, such bond nay be
accepted by tho proper othcE without
other security.
II is provided In tho same &C ton. for
Obvious reasons. shat fidelity aat guaranty
companies organized under q, shall AZ az
times keep ON deposit With rae se'retafy
OF state not lass than 5000 dollars IN
available cash sEssts. and iiat th1s amount
be kept intact az an times.
Guaranty and fidelity corporations az
regulated by chapter ts ~ ilile - Of tic
Revised Statutes iy article tA5 % mat
chapter e. Is provided that thereafter any
CORPORATION oTEtuizad or cr"atoi uaarr
the lsqs ~ this state. Or u any ofaei elait
or Territory. or % cny municipality Of
such State or Territory. or of Guy iore.ea
government. sovereignty or municipality.
for tho purpose Of issul8g surety. guaranty
or Indemnity bonds. guaran;e-'uz thr r.
delify Of persons ia private oi1ces. Elm
pioyments. or positions u truss and con
tracts. or for acting as security on any
such honda. shan file wilh i1e coulmls-
sioner OF agriculture. Insurance stats
tics and history a certified COW q IFS a.
ticies OF Incorporation and all amendnaots
thereto
By succeeding articles IT IS pn0V'2ei nat
such COMPANIES shall. belo1 tTaRssetins
business. lie win the comwisa'oner o. u.
sursnce . Statement o. their assets and
liabilities. thsir net capital sioeS and O.
what Il consists. That they shsh noi traits.
act business "a 'his STATE uHl"st possessed
OF a. !east siHn ae'ual tnitsi sto't.
and that h@y saSl aeV's,t %iia me sTsts
treasarsr Money or bonds o. u'he' st-
c%rri'i~s % Ae approved lT ne comm =
siqser - lrFlrzEee. 20 iLa aropui q =,
e@, o. Shall r71*1res z@ds't-e.T pr -
thai saca ccsTolstlens " real estate "a
ms state q he yaiae OF wee.
= c~oEAisFAoa o. s-iL21 arl. ie ~.