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on. Paul H. BIrown - Page 3, V7165
Retiemnt Plan of Safewsy Stores, Inc. is not subject to the texa Securities Act. Th.e fo going holding beVtg in conflict with Opthin W ~o0O-6311 approved on February'19, 19195, such opitntted ia~s overruled. The tea Seourities Act is not appli- cable to the Employee betireent Plan of Safevay Storea, IMo., the same being a non- profit retirement plon with certificates unt subject to sale, trensfer o assignment. Attol eO bnel's Opinion No. 0-6311 ap- proveP r~ ary 19, 1945, overruled. Yours very truly AR E OERAL OF TEXAS By C. K. Richards Assistant APPRO.3 : A ril 25, 1947 AVN 4EWRAL