Texas Attorney General Opinion: O-1486 Page: 2 of 4
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by chnttel mortgre, deed of trust, mechan-
tc's lien contract, vendor's lien, condi-
tional sales contract and all instruments
ot a similar nature which are ftltd or re-
corded in the office of the County Clerk un-
der the Registration Laws of this State;
provided that no tax shall be levied on in-
struments securing an amount of Two Hundred
(t200.00) Dollars, or less. After the ef-
fective date of this Act, except as herein-
after provided, no such instrument shall be
f1!]d or recorded by any County Clerk in
tx'is Utate until there has been affixed to
such instrument stamps in accordance with
the provisions 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 as security in a Gtete o States
other than Texas, the tax shall be bae
upon the reasonable cash value of all prop-
erty pledged in Texas in the proportion that
said property in Texas bears to the total
value of the property securing the obliga-
tion; and, providing further that, except
as to renewals or extensions of accrued in-
terest, the provisions of this section shall
not apply to instruments given in renewal or
extensions of 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 obligations 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
instruments are contemporaneously executed
to secure one obligation; and provided fur-
ther that when once stamped as provided here-
in, an instrument may be recorded in any num-e
ber of counties in this State without again
being so stamped. This section shall 'not ap-
ply to instruments, notes, or other oblig-
tions taken by or on behalf of the United
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Texas. Attorney-General's Office. Texas Attorney General Opinion: O-1486, text, October 30, 1939; (https://texashistory.unt.edu/ark:/67531/metapth258672/m1/2/: accessed May 5, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.