could not b0, provldlq that upon the conversion of a Federal aavlnga and loan aaaooiatlon Into a State-ohartered bulldIng and losn aaaodatlon, the propertlea, rights and the like 0s the Federal should be veat*d in the State aaaoolatlon~ so &t, before approvln~ the artloles of aaa~iatlon of your or@+nit- lng State build&g and loan aaaool8tIon, It would be neoea- aby for a proper tnmsfer of the property 8nd rIShts therein Honorable H. A. Jmlaon, Page 5
0s the federal aaaooIatlon to the State eaaoolatlcm. At leaat, 8uah tmnaior ahould follov forthwith the aor- porate organIa8tlcm 0s the State aa~ooIatlon. We aannot advise further In dotall, nor la it n6oeaaary to attempt to do so at this time, but we ohall be glad to advise further vhen tha neaeaaltIea therefor may orlao. Pourproblmala Iadeedanev one in the jurla- prudemae of thla State and your anxiety to prooeod vlth proper offleIal dlaoretlon and legality In all reespeota'la moat oaamundable.
Very tmly your8 ATTORRRY GRRRMLOF TIKAS
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