Texas Attorney General Opinion: WW-1463 Page: 1 of 6
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A m4TS a, TEXAm
October 24, 1962
Honorable P. Frank Lake Opinion No. WW- 1463
Secretary of State
Austin 11, Texas Re: Whether the Secretary of State
should accept and file the appli-
cation of a foreign national bank
for a certificate of authority to
transact business in Texas under
the stated purpose clause.
Dear Mr. Lake:
You have requested the opinion of this office concerning your authority
to accept and file the application of a foreign national bank (the State National
Bank of Texarkana, Arkansas) for a certificate of authority to transact busi-
ness in Texas, for the following purpose or purposes, pursuant to the follow-
ing provisions of Article 1513a, V. C. S.:
"To act as trustee, executor, administrator, or guardian
when designated by any person, corporation, or court to do so,
and as agent for the performance of any lawful act including
the right to receive deposits made by agencies of the United
States of America for the authorized account of any individual. "
While this precise question has not previously been passed on by this
office, Opinion No. WW-511, dated October 6, 1958, held that the Secretary
of State should not accept and file an application from a foreign state bank for
a certificate of authority to transact business in Texas by qualifying under
Article 1513a, because of the following provisions of Article 342-902 of the
Banking Code of 1943:
"It shall be unlawful for any person, corporation, firm,
partnership, association or common law trust:
"(1) To conduct a banking or trust business or to hold
out to the public that it is conducting a banking or trust
business; or
"(2) To use in its name, stationery or advertising, the
term 'bank,' 'bank and trust,' 'savings bank,' 'certificate ofTHE17u ATTwiORNEY mwgNiER4AiL
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Texas. Attorney-General's Office. Texas Attorney General Opinion: WW-1463, text, October 24, 1962; (https://texashistory.unt.edu/ark:/67531/metapth268076/m1/1/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.