We acknowledge receipt of your request for an opinion of this Department-on whether OF not-the tax acQuirea bji-'A&lb-le XV of House Bill 8, 47th‘~Leglslatizre, must be pal.a on ti%inWfers OTT stock by‘.a temporary administrator to the heirs at law and the stamps affixed thereto. .

Article XV, supra, provides that: _ . i "There Is hereby Imposed-'and levied a-'tax.

. . . on . . . deliveries or transfers of'shares, or certificates of stock, oi'certlflcates for rights tb stock, or certificates of deposit repre- senting-fan Interest in or representing certlfl- cates made taxable under this Section In any domes- tic or foreign corporation, . . .' (Underscoring ours) .

And said Article XV further provides that: rr a . 0 It shall be the duty of the person or persons makim. or effectuating the sale or transfer to pro- cure, affix, and cancel the stamps and pay the tax provided by this Article . . .' (Underscoring ours) _ -

It will be noted that the'above act Is not onIy a tax onthe sales of stock, etc., but Is also a tax on the transfer of-.stock. ,The purpose of the act manifestly being to tax all transactions wherein the ownership of stock is cha,nged.

While It-is true that the-'tltle.to the'stock-Is vested in the heirs immediately upon the death of the decedent, ~'(Smith vs. Price, 230 S. W. 836) the delivery or transfer of the stock

.

Hon. Ernest Tlbbets, ^[2] page o-43.22

.~ ., some means. In or stbbk certificates ,nuapt be'effectuatea by this case the administrator malces tne transrer.

You are, therefore, advl'secl that unde? Artlcle'XV, siiprB, It Is the dutji of the temporery administrator to j%y the tax and affix the stamps an the stocky certlflcates he transfers. _ _. . .~. a-' : .' _ " Trusting that the foregoing fully answers your ln- quirg, we are

Yours very truly ATTORNEY GENEFUL OF TEXAS By s/RlChWd H. Cock& Ritih&M H. Cocke Assistant RHC:N:wc

APPROVXD OCT 23; 1941

s/Grover Sellers

FIRSTASSISTANT

ATTORNEYGENERAL _. _.

Approved Opinion Committee By s/&lB Chairman