l ATYJ provision of this Code to the aon- trary not~ltheAuMingr any state hank may make any loan or InreWnent which auoh basks c ould make roro it operating 8s a nitional bank, and th0 making Or mUOh IOUr Or inTOat- ment shall not oonstittlte a rlolatlan of aay penal provldoa of the l tatutes oi this fitate.* Artlalo 842411 above quoted aloarly deals with the mubjeot of eligiible Ibaas i6r inro&msnta for atate banka, in pari mat&da With the prior Artiales 601, and thOrerOr0 lm 502, 503, 504, 505 and 600 of Chapter V - all dealing ri th the slme wbj8Otr thOt@ iOr, the mOit p8rt by ne@tion. The WITEO~ mbjoat to which 811 then Artlales relate la aligibll- ity or illrs8la8nt8. Artioles 611 and 661 hare nothing in aom- mea - that 1s te-aay, Artlole 611 doom not deal with the ques- tion of limitation 0r liability 0r any 0nO borrowerr as doem Artlole 607.

Fror what mo hare maI4 lt'follor~, we thbk, that ILW der the 006s a 8trk bank nay 18wf81lfy inromt in those obliga- tton8 0r amother 8tat.0, or It8 polltlaal mubtiVidonmr in rhiah a Rat&al baa& dodoilod In thlm Stab IS l uthorlaed ‘to Invest; -3mmf that ,tbe loaa 1-t of Texas would still apply aa to muah out-of-State iuredmmta, as us11 +a to those in the State.

Very truly yodrs 0 8-W