Texas Attorney General Opinion: V-165 Page: 1 of 3
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AUSTIN 11, TEXAS
ATTORNEY GENERAL April 25, 1947
Hon.~ sPaul . Brown Thts Opinion overrules
Seoretry of State Opinion No. 0~311.
AuStin, ap.re Opinio No. V-165
SRe.: the applicability of
the Securities Act to
a group retirement
plan issued by a non-
Deer Sir$ prof it group,
Yeo have requested the opinion of this de-
pertnMent as to whetber. or nothe fployee Retirement
Plan of Safeey Stores, aop and its United States
subsidiaries come withino..,t , provisions of the Texas
A careful exnetox ofa the copy of the
plan and the sertifioete assumed to each employee con-
tributing thereto, sabltts* with ymr request, dis-
closes tha t the reti A. .. r. membership therein
does not fell within the,,d ..iett . ona .of a ."security"
as defitnd tn.-Sec:tion 2 (a), HrteS- ill 521, Acts of
the F rtyrfeo th Legs'latne, Regular 3esion, 1935,
(lArticle 600, Vernses Civil Statutes) which is as
"The tera 'sieaurity' or *securities
shall insud*, any Slhape, stock, treasury
stock, tpc.k: rtkfioate undeP a r voting
trt agent collaterl trust certifi-
cti equipment trust- ceLrtifiSte, pre-
orgenisation certificate or receipt, sub-.
seiptto 0~ r*8e*~ larztion certificate,
note bond,. debent ..re, .mtage ertiflcate
o? other eardence oft t dbtednes,o any
foru of oe#cll pperl certificate in
aor under a profit sharing r participation
agresent, c'stiticate or any instrument
oil. g5t ap at tletaSe, fee, or title,. or
say ce tatifite a. to~lnfrfnt nte'enting
or secured by asn inte sat i Sn or all of
the Cspital, property, eassetS, profits or
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Texas. Attorney-General's Office. Texas Attorney General Opinion: V-165, text, April 25, 1947; (texashistory.unt.edu/ark:/67531/metapth264985/m1/1/: accessed January 22, 2019), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.