Case Information
*1 59’7 OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN G-GklAfol -apcau. Z J.eAtM JQrne~
honorable
kitAte TrAAAUl-Al’
Austin, Texas
Dear hr. James:
n upon Above- subfeo CAptiOnCd
Ate Treasurer er, President, and the Fulbright Btote he following list ot Bl' Ui th A draft iII TeriIQ bAlAnCecl. duet 160 .QQ TAS 8mie by the bank to the “AppliCAtiOn COnmdssiOn for Approval Of' the state BAllkiIIg dissolution certiPicate which has not yet been passed by the Counnission. The Pulbright State bank therefore retain6 its status A8 corporation.
honorable Jesse Jazzes - pago 2 Of 3l64.62 WAS fOr- *AftQl’ the bAlAme
warded t0 the 6tAte TreA#uFer And depoaitcd in the Dissolution of 8olrent Corporationa Fund ho. 31, urury Guest drew A check in the amount of Approxkaatelj $16Q.QQ (which he OlAiM9d aa bAlAAOe due air), on the FUlbPighht state Pank, Fulbright, TQXAS, which WA@ paid on g+reUQQtAtiOn At the bank.
Qr. cirad y &lig ht now l eek8 to rwover on behalf of the bank the balanoe shown on our reoemls belonging to Drury Oueat the amount of $160.99,
#Ue respeotfully ask yeur oplnioa on the follorfng questtemst
"1. Should the entire amount deposited by the Dulbright State J&u& bece- turned to them 8inOe it retains 8tAtUS A6 A OOrpOrAtiOQt its '2. Qr &ould the bAlAmA renuin in with the $14.669.67 comprising Of 8OlVelSt COrpOl’AtiQM DiSSOlUtiOll F'UQd YO. 81, Of which it is A part, the state if wune is transmItted Yanking CaPui88Lont c3. Or should the lWbri@t BAQk be reimbursed by the State Treasur- er f'rom Ruad So. 31 upan ertablish- ing Claim to the aooeunt of Dmary Gueatt*
For oonvenienee PAke
we will answer your quemtions in the erder otated by yau. 1. no. Article 640 of the nevim6d civil
Statutes contains the following, Within l ix months after the filing of SUCh Oel'tffiOAte, the cOrpOrAtiOn SbAll ,,AJ 011 funds due depoeitors ereditors whom rho claimed the moneys they can diaawm and *3 bmorable Jesoe James - page 3
due themr And upon the exflration of said it shall be the duty of ala months, oorporation to make from the books of said corporation, certified by the President and Seoretary, of .names of all depoait- ora and crt?ditOrs rho have not claimed or hAVe not rewired the balanoe8 to their oredit or due them reApeetlvel7, and to file the same with the State Treasurer And to pay to the naid State Treasurer all Auoh unclaimed deposits, moneys and oredit. far the uae And benefit of euoh depositora a&xl ermiitore. The Poord of Directors shall then divide the OApitAl atook, @lAPAlIt And indemnit7 fund and all other Amete or the proceeds thereof asumg the stockholders rAtAbl7i Alli the board Of DireAtorA shall thereupon file in the offioe of the Danking Gonauisaioner A eertifioate surrendering the frAnohime.* eOrpOrAte As we are advidn~; you in Opinion Ho. O-67%0
this da7, upon the making of auah deposit with the State Treasurer, there ie erected A statutory in favor trust of @maah depoaitora oreditoren theroln named. This truet ia complete when nuch pa7ment bA8 been nade to the State heamurer, and it OAn Only be disoharged b7 payment thereof to auoh depoeitor or creditor or hia dul7 authorioed uaipa, suooesaor or legal repi-eaentatite.
The payment to hr. Guest by the Fulbright &ank, after the item had been deposited rith the State Treasurer; ohOWn b7 JOU, of aourae, WAS not the PAY- Yent out of the Treasury truet deposit.
Yeither is hr. Sight, Cashier of the Tulbrlght State bank, A position to demand reimbursement for this payment from the fund in 7our hando. So that, 7ou Are not AuthOrized to pay hF. Aightre demand therefor. Thie que8tion I.0 anorerefl in our Opinfon 2. you.
*O. O-5729 this day remkW?d
MOnAX’AblA Jesce Julie6 - pg;e 4
This question i* m8wwed In our mower to geetion We. 1 aboth.