Court Opinion

ID: 4140789
Source: CourtListenerOpinion
Date Created: 2017-02-18 03:03:14.061482+00
Date Added: 2024-06-11T14:30:17.585365
License: Public Domain

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        Mr. 0. P. Lockhart                           ~inirm     .No; 0452o
        Chairman                                              Authority of a    Ll0yaS
        Board of Insurance      Commissioners        COi&WlJ' t0 Write      &WOFOSed
        Austin, Texas                                bond submitted.
        Dear Sir:
                     In your letter      of iru:ust 9th, 1943, you submitted   a
        copy of the i:rtlcles       of Agreement of the South Texas Lloyds
        of &MU,       Texas, together with what is designated       a “Guar:?nty
        payment Bond,” which that company proposes to sell,           and asked
        our opinion whether under ‘Chapter 19, Title 78 oP the Revised
        Civil Statutes      of Texas,    the company is authorized  to write
        such insurance.        Under date of August 2jrd, you submitted      a n~ew
        form of Articles        of Agreement which the underwriters    at the
        subject   Lloyds intend to execute and file with your department.
        We shall,    therefore,     confine our opinion to the legality     of the
        bond under the proposed amended articles.
                    Under the terms of the llGuaranty Payment Bond,” the
        Llnydc Cr.m>;rioy n:.:ert.- II