Texas Attorney General Opinion: O-5907 Page: 3 of 3
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Honorable Geo. H. Sheppard
manent archives of his office. Those lists transmitted to the
Banking Commissioner should be certified under the hand and
seal of the State Treasurer.
"3. The transmission by the State Treasurer to the Banking
Commissioner of the lists mentioned in Answer 1 relieves him of
all future responsibility and liability in regard to the trust
previously being administered by him."
Since such deposits have never been in the Treasury-,of the State,
it is not required, nor is it proper, for the Comptroller of
Public Accounts to issue warrants to the State Treasurer to pay
them out of any funds in the Treasury. The holding of the
Treasurer of such funds is, as we have seen, on an express trust
for private individuals, and such funds, therefore, should be
disbursed by the trustee--the State Treasurer -- by paying the
same to the proper beneficiaries, or their order, either upon
demand or after judicial determination of the claim or claims
of such persons.
The State Banking Code above quoted specifically transfers the
trust to the State Banking Commissioner, upon precisely
the same trust as that in which it was held by the State Treasurer.
The status of such a fund is very closely akin to, if not identical
with, the Suspense Fund Account under Article 4364, Vernon's
Annotated Civil Statutes, with respect to which this departmentlin
Opinion No. 0-945, addressed to Honorable Tom C. King, State
Auditor and Efficiency Expert, advised:
"In Conference Opinion No. 3048, this department ruled that the
above-quoted Article allowed the payment of any money into the
Suspense Fund which is awaiting the time that the same can
finally be paid into -the Treasury. It is the opinion of this
apartment that tntil the specified fund to which the money is
properly belonging can be determined that the same cannot flhally
be taken into the Treasury. In such a case such money could be
paid into the Suspense Fund even though there was no question
about the State's right to keep said money. Our conclusion, in
this respect, is based upon an analysis of the statutes which
outline the ,authority of the Comptroller of Public Accounts and
of the State Treasurer in such a situation." (Emphasis applied)
Trusting thit what we have said sufficiently answers your inquiry,
we are
Very truly yours
APPROVED Mar 8, 1944 ATTORNEY GENERAL OF TEXAS Approved
Geo. P. Blackburn Opinion
Acting Attornty Committee
General of flxas By Oce Speer By BWB,
Assistant Chairmanpage 3, 0-59o07
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Texas. Attorney-General's Office. Texas Attorney General Opinion: O-5907, text, March 8, 1944; (https://texashistory.unt.edu/ark:/67531/metapth263185/m1/3/: accessed April 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.