Untitled Texas Attorney General Opinion

R-337 Hon. Paul H. Brown Opinion No. V-163 Secretary of State Austin, Texas Re: The designation of notes re- ceivable as "property" with- in the meanln of Article XII, Section i?, Constitution Dear Sir: of Texas. You have submitted the following request for the opinion of this department. "1 . There has ~been submitted to this department applications for proposed cor- porate charters wherein the following sit- uation appears: "a . In payment for capital stock sub- scriptions notes receivable secured by chat- tel mortgages on automobiles Is shown. "b . Current assets of the proposed…