The Act of Congressdoes not purportto odnfereny cor- porate power upon the State charteredinatltutlone, nor indeedoould it do 80, for that would'bebeyond the Conetitutiotil power of the United States ae one not delegatedby the States to the United States, under Article 10, of the Constitutionof the United States. - .
HonorableJohn Q. HoAdams,Page 3 (O-5451-A)
Seotion 265 has for its purpose the regulationof depooidarics of the public. money. The provisocontainedthereinthat the regulations stipulatedshall not "discriminate againstor prefernationalbanking associations, State banks members of the FederalReserveSystem,by class, or which shall requirethose enjoyingthe benefits,directlyor indirectlyof disbursedpublic funds so to discriminate," could not by any reasonableconstructionbe held to enlargethe corporatepowers of State charteredbanking institutions.
Section 16, ArticleXVI of the State Constitutioncontainsthe followingparagraph:
"* * * l No such corporatebody shall be chartereduntil all of the authorizedcapitalstock has been subscribedand paid for in full in cash. Such body corporateshall not be authorizedto engage in businessat more than one place which shall be designatedin its charter.* * * * *
Frrxathis it follows~thatno State chart&M banking institution may have a branch bank, or exeroisethe bankingprivilegesthroughfacili- ties for bankingat any place other than the one named in its charter.
2. Weltherdoes Section 265 of Title 12 purport to authorize nationalassociationsto establishbranchbanks at any place other than the place of its authorizeddomicile. It does not deal with such sub- ject at all.
Whether or nor a nationalassociationwould be violatingany law of the United States or of the State in establishinga branch bank in this State is a questionfor the considerationof the law enforcementauthori- ties of the State, and requiresno answer in this opinion.
APPROVEDOOT 14, 1943 Yours very truly
Id GroverSellers A!PJ!CRIiRYGRNERALOFTEIAS
F?RSTASSISl%WTATI0PRRYGEIiRRAL By /s/ Ocie Speer Ocie Speer APPROVEROPJNIOR Assistant COMMITThTBY B.W.B. CHAIRMAR
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