Untitled Texas Attorney General Opinion ( 1944 )

OFFICE OF THE ATTORNEY GENERAL OF TEXAS AUSTIN Xcmorabla Jomoe J-0 stmso Treaewer ~UaQln, Tams FiQnmable Jew JtriJms - pi& 3 ,.., % ; FWumabL, Jeeee Jemee - &me% 4 f "(h) Open spproml of the flnrl.r%~ortof llqaId%tlanby the Oo%nlaelo~r, %.aldreport shall be prasenfod to the aovt and tke oourt lh%ll %ntW uoh or&or, jud@a@nt end deoree 88 ma b4 aeoeemary.” -- vernon~s clr. stat. wt. 8e.L. Long,prlor to 1939, buIldIng and loon a%%aoia- tloae were,tubdor the eup%ryIsIonof th% BankIn& ComaI%slon- er,~lnat he ume not~olbthe~rith the sower to lIqtiMst+a eta&h oorpontltiaa,that bcblngaooompit8hedby tii%volun- tery,aot of the %ePooIatlon,or through s.jadIofal.proaadi In$ popsrly idtltuted. ‘rpoarn~rda ulth nep8ot to lrtlndlo.'31 mflr&, aio;ro94dvi8e tte :.ln ooanootlonwllih your orl&nal requaet, .:‘. $4imt.:the: fund rlint+dnedspoeite aadb by a numberof build- &&-e&. ~~OUIeieoo%it3oae'upon:tolantarrliqtidmtlgn;end piWelblg~xQm or~aom judloi%l~llquld%tloue~8uohl.mofmd% db not-dlreloeo,:&owever any deposit br th% %%rrkln@ ~aom- :i. :'5. mlaqloaer&a ,.A.::.:!.,:. '..! isu~~e. a. oaae,oi~,.~~gu~batioa.~i~~~ted by him 'of'~8ro.t10a,;~ls.~o.*'!~s"pr;iis~e~~‘,.~id~ Input- ,,t',:f;orn : ,~‘,:';:. ;'Aerrol;".~,~,:~,. ,I oiatton.AoF. IIsbiro edrlih byethe Benkln$ Commierlonirthat 1%:aclew*ti @ho:pnotiae or bhat Departewnt,upon 'the rob -onta~~diee@utlon ot a bulldIn& pnd'loen.es~oIetIonus+ 4er it8 euQW~l%l~n to .ruqalreor the dI%SOltin&oorpora- t1on.r 4q6elt rit&the~Stste Tmeearer to oo~yerwolela- eillmu.'of mosey dor;.~ee:,&r g~&~~rml by.Artiele,840,Re- vised C1~,13~Stututue, 1926, with mapot to.mlanterf llquldatlaneof baaklngt Inatbtutionn,8aah depoeit uauel-. ly beS#qgmdo through the Bankind Oom@soiono~ a@ inter-.; .mivdiary. nhether~or not Wnknhla ‘any etcltaots r*quMiqf ,:. eaoh Uepoeltqto be m&da with the State Tnssorar B?%noed not Qa Zaqulra or'dWId%, %lbsIt'a very tbou@htSul aud w~lrrd&e praot$ae. Gush doposit by an oseoqiation In,oourea caf Sol- untsry 1iqaIdatIc.mIn ,n%srsnt would %om% *IthIn ths pro- vI%Ioas or ~.otlon 16 -0i the mlldlng 8.Loan A%eooIation Aof,, adopting by refiwsnoa,the bank l~quldetlonmthod by the Bnnklta~ mmmIesIonsr for the sit&p&ereimon tha Cozi- desloner has not t&m over the saeoo~etlonId ob%dIenoe to en order of a.court or oomptsteatjuri%dIotlun-- ths 1iqxildatZon bshq wholly ~oluutnry. while oolsein rinan6iol oar ration8 are by law unllerthe *up6niaiOn or th6 i!M& aopmiuiOlMlr, notably, loan oaa brohwgcr ooapnlec, and ~,rsdiO uaionr, the e,tatutaedo not aulhorlse the* 0frhir fo liquid&a suoh ~orporatfona,and where, 80 &a 61241 aam with you, a tmit Aelposithe* b6%a TOluntmuy rpreebr tha aorgwatiw ror the b666PiO or Q noh~laiming oredlb-. or, th e n c er k inly isno lt+uke euthorlaing niuuh1.~ l%quir3a&you a'*Tr%asur%rte turn over such 8epooit $0 ~thek3aaibg Comaiaeianrr,a8 ther6 ia la,the pr6sWO i%ukbg code, 6lready rafcr6d to in this opkxianl