Case Information
*1 OFFICE OF THE ATTORNEY GENERAL OF TEXAS AUSTIN
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jority of vhooo rtorrr *hiah , and aorporaticm oak, &Ild in vhlca trwtu undu an tO8 8tOrU 8UbjOOt t0 VI l O th0 OtwO8 Or th0 tV0 OtbtUU48fnglOdi4illt by virtue of a power of attornoy O?fty In l ooh OW- 8tOIW8 b0 t.OXOa 88 0 h8 rOW
xn our opinion IO. o-2764, va held that vhem tb I- @‘OUp Of ~W8Oll8 VhO OOIhtrOlhd th@ ItOr. Oi 8 ~tfMP- 8tOOk OVlMrlhiP, D8jOrity 8bip al80, OOJltFOlbd 8tOP88
v* Mate, aot frt sported.
8ootioo 6 U Artlola lul-d, 1. 1. o., tha awn btoxw Tax Lav,rud8 w folloYrr Ot thI8 Aat #h411 be oa8tru.d %o pOV181OU q&+4 to OVUM pu8on, agut, ?*oolvu, truotu, W l 8#OOiatfOXI,
tirrr, ~O~pWatfOa~ ~Op~~~8hip WXhl’Ol&d W Uith ~OtOi@lAO~ t0 w8 8OOtlOIl th. OOWt in th. Butt M8l, 8U&lFa, OrId;
‘9.0. VU MIlfiO8tl latondod to protont luge ahaIM of otomr, vhr oh reoelve tha boneiltr
a omoll MMgeMnt w OoQtrOl 0t.r a n?m-
E” Y lndltldlal unftr w 0 oMt1oIla t& olou purpou of thm lu vould bo do orted.” “p Oi w tV0 fbOt OitWtfOM ~.8Old- Vhik, in UfthU d b7 Lou, 60.8 tho aam Individual o? &roog OS indivldwl8 OWlI tb MjWft iJ& tV0 OO~P~tiOAO, mt &A reb Of htOFO8t ruoh f4Ot 8:tW the 8U&@ Individuala br. tha UltiMt. r OOIkt?Ol Ud ~OMnt Of rU thr 8tWW inVOlVOd. @I th. Ow hand tvo ladlrldwla ova 8a Witr Of tb 8tOOk in om oar- a, porrtlon, 8nd aam tvo in rldwlo oontrol the rjwltt or 8tOok In the other bJ vl?tw of OVIUP8tiiip of one usd 8a lr- rovoabblr trwt la vhioh the other I8 trwtro vlth brolate *3 Honwablr &w&e 1. PhrPWrd, we 3
ovor WI end OOntPol the 8toOk l tmNter. Oa tb8 other d On. Iadltldurl 18 8Ob OVBU Of tV0 8tOr.8 UId OOZItrOl8 Ln tvo othU 8tOr.8 br VirtW Of l ttO?MJ vlq blB Of l 0V.r ruoh thorltr’. Thue I8 no dlf ranoo in plaolp l u in l ltbu R f of th88. O&8.8, from the Butt Oa8e. The oontrol r&d mnAgr- 8ont in r&oh 0480, I# jU8t ffOOtiVO, and jWt a8 Un&'&IlVO- oal a8 ii tha oontrol ouo rooou#rh8d wan8 ujorlty OVM~8hlp, Urd ~0 think it I8 a8 ff8OtiVO4 OOVOrOd jWt thAt, in 8rOh Of th. frOt rftUb br fO11OV8 8tatUt8. It prorented brpu the 8twrr Ue Wteblr a8 ring10 ohain tionr and that each Of 7OUr qw8tiOM mU8t be U8V8r.d 10 t& 8ffiPm- at; V8.
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