*1 Eon.D.LeonEarp

Securities Commissioner

Secretary of State's Office

Austin, Texas

Dear Sir: opinion No. O-1629

Re: Travhling expenses of Securities Commissioner to attend conference of State's Securities Commissioners in Chicago, February 19th and 2Oth, 1940.

We have your request for an opinion on the above subject, dated Februsry 14th and also e copy of tour report to the Secretary of State, dated February 23rd, wherein you summarize your conclusions relating to various types of securities which may ba offered for registration in Texas which conclusions and recomdetions arrived at after ccnference with other conferees, ale to be used in determiningthe future policies of your department, You have advised the writer that this conference was arranged by mutmr'lagreement among the five persona attending same, being yourself, the Securities Conmissioners of the respective states of Minnesota, Illinois and Florida, and the field secretary of the American Investment Bankers Association.

It is our opinion that khe object of this conference is clearly a State &pose. Nor do we believe that the conference constitutes a "convention" as that word is used in the general rider to Senate Bill 427 of the 46th Lagisla ture.

Yours very truly APPROVED MAR. 12, 1940 ATTORNEY CERERALOFTEXAS s/GERALD c. MAN-N

A!lTORNEY cZ3NEW.L OF TEXAS a/ Walter R. Koch

THIS OPINION CONSIDERED

ANDAPPROVED IN LIMITFLD

CONFERENCE

bs Walter Pi. Koch

Assistant WFX: aw