Great Southern Life Insurance Company v. City of Austin.

Summary

The Texas Supreme Court held that the statutory provision fixing the taxable situs of securities at the insurer's home office does not violate the Texas Constitution's "where situated" clause because the Constitution must be interpreted through common‑law principles, and the Legislature has authority to set such situs. Accordingly, the Court reversed the Court of Civil Appeals and affirmed the trial court judgment for the City of Austin.