No. V-0049 (1947).

• Court: Texas

Texas Attorney General Opinions 1947. No. V-0049 (1947). 1Jan. 30, 1947Hon. L. S. Johnson, CommissionerState Department of BankingAustin, TexasOpinion No. V-49Re: Authority of the State Banking Department to supply certain information to an attorney representing a client who has a judgment against a Savings and Loan Association in the State of Texas.Dear Sir:We are in receipt of your request for an opinion upon the above subject matter as follows:

"We are in receipt of a letter from an attorney, the substance of which is as follows:

"'I represent a client who has a judgment against .........., of .........., Texas, who is president of the .......... Savings and Loan Association. I ran a writ of garnishment against the loan company who answers "That the defendant .......... owns in the garnishee company, to wit: .......... Association, .......... shares of the value of .......... dollars described as special fully paid stock and evidenced by stock certificate # .........., which has been deposited with the Department of Banking, State of Texas, to cover an existing deficit and pledged by .......... to guaranty loss from said deficit to the shareholders."

"'This may be true and I doubt it.

"'Please let me know if there is such deficit, and if said stock owned by said .......... is pledged with your department.

"'Thanking you for your prompt attention

2

and reply, I am,

"'Cordially yours, ....................

"For your information, the statement of the garnishee company, as hereinabove quoted, is substantially true, except for the number of shares which is stated therein and the amount of the value thereof.

"We seek advice from your Department as to whether or not there is a legal prohibition against our furnishing the information requested of us in the above letter.

"In this connection, you are advised that none of the information that we have on the subject incorporated in the garnishee company's answer was obtained by us through an examination of the association, but resulted out of a transaction between this department and the Board of Directors of the Association in the process of a reorganization of said Association."

Senate Bill No. 9, Chapter 18, of the Acts of the 42nd Legislature, 3rd Called Session, Article 1136a-9 of the Penal Code, Vernon's Codification, is as follows:

"The Banking Commissioner and my examiner,

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