Case Information
*1 OFFICE OF THE ATTORNEY GENERAL OF TEXAS AUSTIN
Iionor~blc J. T. :JcZllin
Deputy Canking Cozx;Lssioner
DopxtLsent of Dankin~
Austin, Tcsns
Dam Xr. :iciii.llin:
this applic2tion on was ra30 by ma ter nnking tkts report to the Dank- rtor a.5 oppU.02 for. Uoo- the charter 03s Over dollv- rink or its incor>orntors a-xl no P Authotity was ever issuecl or delivered. I m arklscd that tho bzuR!Z never opomd for business end iucurrod no liabili-.
tics cscopt those list& in the attachM afffi- &wit, which liabilities have boon relcsscd as &om by the ottaohod letter siznkl by the crctitors nhmo(l.
"The stoc:&olr?crs of tlio ban!: h7.v~ ur,ani- ~ouely ogro,ti not to accept tPs clxmtar as
. . -. AL; Kanorable J. T. AicXillin - Page 2
@%ntcil mcl hnvc roqxstcd that the resolu- tion of the B&n; Board bo rcscindocl.
*It is the p~~rposo of tho incorporators to apply for a batii chartor under the Nation- al Id&in:: Act and it is their dccirc, if to avoid liquidating prococdings
possibl0, 3s provlcloci for umler Articlw 638, mil 540. *In view of the abovo facts, please Ul- pig3 ac chcthcr or not it ‘is wXt!;in the legal authority of the 3kan:ini; Coard to r=scinC Its rmolution ,granting SUCh cixxter, imcl thereby rovoko such chartw and enable the incor;;ora- tore to recover the caI&tal paid in by the= unclcr tho application for charter.a
It is our opinion that the Banizin~ Boarrl Coos hnva the authority to rosoiti its action in authorizing the chzrtor for the Croa&my Wnk, Alaz~o iIci@~ts, Texas, un4er ths facts statad by you.
Ordinarily, the official action of cn cxcutivo officer or board of the Strte c:zy be or a&dni.stratlvo Eo&fied or men rescinda& by such funotionary, in the absence of som vcstd right having attached by ro;Lson of ouch act. It is oitiy vhcre rifits of @vat3 pnrtiee have bccoue vested t&t such agencies or successors in office are forbiddon to revoke such action. L3iCIlW nros.
v. mrr'6, 273 Se V. 7SO. The executed instrments rofcr- pea to by you ss being attached m-e not attzdzcd; honever, we are assuming the Pacts to be as stated by you.
A~FROVED JAN 22, 1941 Vary truly yaws
JWL'ORNEX GF;NZ,RAL OF TX."" &&i-&k/ (,
,ATTORIiEY GEXZRAL BY && Ocic L) or
Bssistant OS-LiR