The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1915-09-17
MAKE MEANING OF TEXAS
LAWS PLAIN IN OPINIONS
Rulings on Insurance Companies,
Stock Laws, Banks, Etc, Deliver.
ed by Authorities.


| policy written in the home office out
side the state at 25c rate, while the
charges fixed by the Texas fire insur-
ance commission tOtaled soc on the
same risk. No analysis of the rate
accompanied the policy nor was filed
by the company proposing to write
the policy and deliver it through its
Texas agents. All Of this is unlaw-
ful, says the attorney general in an
opinion prepared by First Assistant
G, &. CUretOn and transmitted to the
state fire insurance commission this
week.
1t was held by the attorney general
that a foreign or outside insurance
company having permit to transact
business in the state must write all
policies issued on property within this
state in accordance with the laws of
the state, regardless of the fact that
the policy may have been ordered
from and may be written at the home
office Of the company located beyond
the boundaries of the state. 1t was
also held that where such a company
| writes policy at less than the maxi
mum rate prescribed by the commits
sion, it must file an analysis of such
reduced rate with the state fire in
suTance commission, as prescribed by
law, and that the failure of any such
company to thus obey the law will
subject it to a forfeiture Of its permit,
and its officers and agents to prose-
| cution.
Ip an opinion rendered to Hon. H.
B. Terrell, controller of public ac-
counts, the attorney general held that
it is not the duty of tax assessors to
place the postoffice addresses of tax
payers On the 1915 tax rolls, but it is
their duty to place such addresses on
the tax rolls in time to enable tax col
lectors to perform their duties in send
ing out the notices by May /, 1916, in
! counties Of less than $4,000 inhabi-
tants, and by May 1, 1917, in counties
OF more than $4,000 inhabitants.
In an opinion rendered to Hon. ].
S. Terry, county attorney Kaufman,
Texas, the attorney general held that
where the stock law is adopted prior
to the enactment of the statute max
ing it penal offense to allow stock to
run at large, such latter statute does
not become effective In such precinct
until an election is held subsequent to
the enactment of the penal provisions.
Articles 1241, 1249, penal code; 1885
and 1909, revised civil statutes, 1911.
In an opinion to Hon. John S. Pat
tersOn, commissioner Of insurance and
banking, the attorney generals de-
partment held that no incorporated
bank or trust company chartered I'M
der the laws of this state shall loan
its money to any individual, corpora
ton, company or firm, directly or in
directly, in excess of % per cent Of
it's capital stock.
2. Only bank incorporated under
the laws Of this, the State of Texas,
or chartered and operated under the
laws of the United States, or of some
other state Of the union, may become
the reserve agent of bank chartered
under the laws of the State of Texas.
g. Article 443, revised statutes Of
1911, makes it unlawful for any d.
rector of state bank that maintains
savings department to use or con-
sent to the use of any such funds,
otherwise than for the payment Of
lawful demands Of savings depositors
and in the making of such invest
ments as are prescribed in this chap
ter, or in the payment of dividends.
etc.
T. The commissioner of insurance
and banking has no authority to ap-
prove any institution of any character
as reserve agent for the savings de-
partment of a state bank, and that
the funds of the savings department
can not be carried in anything except
cash and the statutory securities, and
may not be placed On deposit with
any other banking institution, wheth-
er incorporated or unincorporated.
In an opinion rendered Hon. John S.
Patterson, commissioner of insurance
and banking, the attorney generals
department held that the statute levy
ing an occupation tax of $50 against
state agents of fire insurance CON-
panies permits counties and cities to
| levy one-half that amount.