Untitled Texas Attorney General Opinion ( 1939 )

OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
Honorable Tom Seay
County Attorney
Amarillo, Texae
Dear Sir:
Opinion No
Re: Wheth
Vernon’s Annotated Civil Stat-
the
“(ij Except as herein otherwise pro-
vided there is hereby levied and assessed
a tar of Ten (log) Cent8 on each One Hun-
dred ($100.00) Dollws or fraotion thereof,
OVOT fir*t Two Hunarea (&aoo.ool Dot-
lara, on all notee and obligations eeoured
by chattel mortp.!qc, deed of trust, mechan-
ie’e Lien oontract, vendor’s lien, condi-
tionol sales contract ‘and all instrument3
01’ a slmflar nature which are ftl~d or re-
corded in the office of the County Clerk un-
dor the Registration Laws of thla State;
provided that no t’ax shall be levied on in-
struments securing an amount of Two Hundred
($200.00) Dollars, or less. After the et-
footlve dote of this Act, except aa herein-
after provlded, no such instrument shall be
filed or reoorded by any Bounty Clerk in
t::.!s State until there has been affixed tc
such instrument stamps in aocordanoe with
the provision3 of this section; providing
further that should the instrument filed
in the office of the County Clerk be se-
curity of an obligation that has property
pledged ae security in e Btete or gtetea
other then Texan, the tax ah11 tr lteaati
upon the reasonable cash value of all prop-
erty pledged in Texas in the proportion that
said property fn Texas bears to the total
value of the property securing the obliga-
tion; and, providing further that, exoept
as to renewals or extensions of aoorued in-
terest, the provisions of this section shall
not apply to instruments given in renewal or
extensions or instruments theretofore stamped
under the provisions of this Act or the one
amended hereby, and shall not apply to in-
struments given in the refunding of existing
bonds or obligation3 where the preceding in-
strument of security was stamped in accordance
with this Act or the one amended hereby; pro-
vided further that the tax levied in this Act
shall apply to only one instrument, the one
of the greatest denomination, where several
instrument3 are contemporaneously executed
to seoure one obligation; and provided fur-
ther that when once stamped as provided here-
in, an instrument may be recorded in any num-
ber OS counties in this State without again
being 30 stamped. This section shall ‘not ap-
ply to instruments, notes, or other obliga-
tions taken by or on behalf of the United
:
Honorahle Tom Seay; page 3
States or of the State of Texas, or any
corporate agenoy or instrumentality of
the United States, or of the State of
Texas in carrying out a governmental pur-
pose as expressed in any Act ot the Con-
gress Of the United Ste tea or of the Leg-
islature at the State or Texas, nor shell
the provisions of this seotion apply to
obligations or instruments seoured by
liens on crops and farm or agriculture1
products, or to livestock or farm imple-
merits, or.. an abstract of judgment,
Both this and the preceding administration
of the Attorney General’s office have expressed the
opinion that national banks were exempt from paying
the stamp taxes levied under Article 7G47e before
the amendment by the 46th I.egislaturer Thie exemp-
tion oanes not from the lenguage of thhe tedn statA
utes, but &II the inability (rf+ the YLstr aa i g Vy
such a tax against nstional banks. Federal Land
Eank v. Crosland, 43 Supreme Court 585; De3 Moines
National-Bank v. Fairweather, 44 Supreme Court 22;
First National Bank v. Anderson, 46 Supreme Court
135; Gully v. First National Bcnk, 81 Fed. (26) 502;
Section 548, Title 12, U. S. C. A. ; opinion by H.
L. irillliford, Assistant Attorney General, to Look-
hart, Xarch 21, 1938; our opinion No. O-267, dated
February 25, 1939. In our opinion No. O-074 ad-
dressed to Honorable 2. Goasett, Banking Commissioner
of Texas, we affirmed such holding a3 to the amended
statute. In our oonierence opinion No. 5061 dated
June 17, 1939, addressed to the State Treasurer, we
.expressed the view that this is a privilege tax.
Since the tax levied by said article 13 not
one upon property, and never aoorues until the instru-
ment of security is presented for record, and sin08
national banks are not subjeot to the tax levied by
this article, the instruments mentioned by you sre
exempt from the tax, and your question must be answered
in the affirmative. This is in accord with the Opinion
or H. L. Williford, Assistant Attorney General, dated
Honorable Tan Seay, paga $q
May 27, 193S, addressed to Honorable Ned McDaniel,
County Attcrney, Wfahita Falls.
Your8 very truly
ATTORNXYOENERALOF TEXAS
(signed) '
BY
Glenn R. Lewis
Aealetant
GRL:LW
APFROfEDOCT 30, 1939
(signed)
GERALDC. MANN
ATTORNEYGBNEIUII
OF l!5lW3
APPROVED
oglnion conK4ittea
By BWB
OhelFlnell