Untitled Texas Attorney General Opinion

AUSTIN ii,T~xas Hon. J. M. Falkner. C.ommissioner State Department of Banking Austin, Texas Opinion No. V-1489 RS: Applicability of Section 7. Article 1524a. V.C.S..~re- quiring collateralization of Texas obligations. of lend- ing corporations, to the,sub- mitted short&rm notes of General Motors Acceptance ,Dear Sir: ..~ Corporation. Your request for, the opinion of this office is in part asfol- lows: “We de.sirs the opinion of your office upon the ques- tia as to whether. or not the issuance of notes by corpora- tions organized pursuant to the provisions of either of Sub- sections 48, 49 and…