Untitled Texas Attorney General Opinion ( 1940 )

OFFICE OF THE ATTORNEY GENERAL OF TEXAS AUSTIN Hoparable UoyQ 0. Bouldin Oounty irOtorney Palo Pinto County Palo Pinto, TBxaI) with no fniomatlrm ooa- ration lnquir6d iaboutox- roa the above qwation. vi8 d Civil Statut6rr, whioh eubdivislons aoIxLcdlathe ail6loll6money with- or Cieaountingprivilegea, “49. For any one or more of the iollew- ing prpoaeo: To aoouinulats and lend aon*p, purohaes, sell and deal in notes, bonda and securities, but without Wine: and dioaoW.it- fng privllegae; to sot as trusts6 un&w any 266 lama errpresstzxst comiitto~ to thaz by oon- traot an& a3 agent for ttr0 periorkumoe of any l.w~ral sch." Artlclo 71454evioed Civil Statutes, pmvidss that 'all property,ma1 , prsCnal or tired, axospt 3uah as nay be hereinart~3rexp,ress1yl3XdE;jL%d :s subjeot to taxatgcn, and the sum shall & renbar~d and listed as herein deswibad." Article 7152, Bevisod Civil Statutes, prasoribes the mnmr in wIiichproperty shall be listdO or rendered, iZkOlUdin& t.Ont Of 00r~~~t~0llS. UtiOle 7170, &WiStd Civil Statutes, tea43 a5 followar 'All property of private aorparations,ax- aapt in aas88 wiiaresorm other provision is made by law, &all be aasossed in the nam IP tha aor- poration; and in ccUeotin& the tares on the cane all the personal property of suoh corporatisn shall be liable to be seizad whgnsverthe aaae may be tomi in the anunty, and so16 in the same saner as the property of fndivi&ualsmy be sold for taxes. All otatewmto and lists rmde by oor- poratisns tLa;nt are required to 5e sworn to shall be verified by tha affidavit a&M .uignattws of the secristarp of said sorporation,and, IS thay have no seoretary,the offfoer aho dlsoimrges the O.zties of sacratal-l of said oorporation.* Sinae our statutes provide,no exoaption SOP aar- porations areated unitersubdivisions48 and 49 of Artiole 1302 frcm the >roViSionS of kX%iii ;irttQlS 7170, that Statute governs the oasa whhiohyou inquira about. Such corpora- tions should be rquired to pay taxes upon the real, per- bionalan6 mixed property belongingto it. Yours very truly Al'TOWXY GEBZRAL OF TEUS APPROVED MAY 3, 1940 , . _ C APPROVED 6PINION coMMn-rE~ 42-s