TEEA~TORNEYGENEEZAL QF TEXAS omma.nm AUSTIN H. TEXAS .Al-rolR-- am=RAL Honorable A. J. Luakett County Attorney a0m aoutt*y Hew Braunfsls, Texa8 Dear Sir: Opinion No. o-1770 Ret Shares of atock in federal savinga and loan assoolations are exp~keS8ly authorized by Artlole 0th`` Sec. 24, as Inveatmenta for administra- tora, executors, guardlane, trusteer ahd other ~lduolarles. lie are pleased to reply to your l&tter of February 3, 1940, addressed to Oereld C, Mann, wherein you request an opinion of this department on @the validity. 01,8har86 ln Federal $avln$s and Low AsoooIatlonr a8 inverrtments for guardian@, administrators, tnaeteel), and other fiduaiaries.” Artlole 8&a, of the Wevlred Civil Statutes of Texw, to whioh you ref’ec, leave6 the matter in oonslderable doubt inasmuch as it reierf# only to ‘imrt i&gee,, bond@, debentures, notes, oollateral trust 06wtlf ! oateac and other such evldenars of lndebtednese. ” FoPtunately, however, any doubt on this queatlon has been removed by Senate Bill 100. 13, enaated by the Regular Session of the 46th tegirrlatwe, Aota, 1939, whloh appearsa8 Artlole &la, Seot%on 24, of V4mon~r Annotated Texas Statutes, 1925, aa amended. This Artiale reads in part as follower “Admknlstratom, exeeutom, guardlan6, trustees or other flduolaries, rmyr In suoh oepaalty ior a named ben6fiolary, acquire and hold &area 0~ lWu?e ewountr In any building and loan asaoclafion organtsed under the rawa of this State* or in any Federal savings and loan aeroolation domIoil&d lwthle State and shall have the 6ame right8 and be mbject to th6 Eame obli&$ions(l privllegea and remedies a8 other shareholders and member‘e, . . . Honorable A, J, Iuokett, me .s?#Q-1770 By virtue of the express terms of the above quoted statute, you have unqueetlonably been oorreat in advleing your Pro)ata Judge that eharea of etook in a Federal &wing8 and Loan Aeeoolation are valid investments for all flduoiarlee. Yours very truly QENERAL AT’I’OR?XSY OF TEXAS a/ vllalter R. Koch Walter R. Koch Aeeletant APPROVED FISB.8, 19’40 S/ fferald C . Menn yy?yy la@mukL OF ‘I’sxJu WRlcI co/ego APPROVED OPINIONCONMITTJSE~ By BUB, Chalman~