Untitled Texas Attorney General Opinion

Hon. J. M. Palkner, Commissioner Opinion No. W-42 State Banking Department Capital National Bank Building Re: Classification of real Austin, Texas estate held by a State bank for the purpose Dear Mr. Falkner: of a future home. In your letter you have submitted your request for opinion as follows: "Article 342-501, Vernon's 1943 Statutes, permits banks with certain limitations to own their own domicile. Art. 342-502, Vernon's 1943 Statutes, sets out the manner in which a bank may aaqulre real estate other than Its domicile. In many instances where a bank has never owned its own home, it has…