Texas Attorney General Opinion: V-804 Page: 1 of 11
The following text was automatically extracted from the image on this page using optical character recognition software:
THE ATTORNEY GENERAL
Ausow*. Tz AS
April 7, 1949.
Hon. Keith Kelly, Chairman
Senate Committeeon Banking
Austin, Texas Opinion No. V-804.
of Senate Bill 334,
regulating and li-
censing small loan
In accordance with the request of the Senate
Committee on Banking, we have considered the constitu-
tionality of Senate Bill 354, by Strauss, licensing
and regulating small loan concerns.
This bill, styled "The Texas Small Loan Act",
is a comprehensive measure which finds detailed facts
to necessitate regulation of the described small loan
field, details the "administrative machinery" td pro-
vide such regulation, and limits both the interest and
the expense charges of these lenders. To enumdrate,
discuss, and pass upon each provision of this act w~old
unnecessarily lengthen this opinion. As to the propri-
ety of such an act as a whole, we think it sufficient
to say tha the loan business in Texas is subject to
regulation and that a legislative classification which
regulates money lenders as a group separate from other
lenders "will be upheld unless it appears, clearly and
without doubt, that it has no reasonable basis for sup-
port". No such unquestionably clear lack of any rea-
sonable bgsis for this bill, in its entirety, appears
to exist; so we turn to consideration of those few pro-
visions of this measure which, by their specific subject
matter raise some doubt regarding their relation to con-
stitutional provisions respecting usury.
i1. Juhan v. State, Z16 S.W. 873 (Tex. CGrim. 1918.)
2. Watts v. Mann, 187 S.W.2d 917 (Tex. Civ. App. 1945
error ref.) at p. 925.
3. As to redsonableftess of classifying the small loan
business as a distinctive class for regulation, read
Koen v. State, 39 S.W.Sd 283 (Tenn. Sup. 1931.)
Here’s what’s next.
This text can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Text.
Texas. Attorney-General's Office. Texas Attorney General Opinion: V-804, text, 1949; (texashistory.unt.edu/ark:/67531/metapth265623/m1/1/: accessed December 11, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.