Minutes April 2012

The Corporate, Banking & Securities Law Section Council met this date via conference call. Participating members included Joseph T. Belton, Jennifer C. Blumenthal, Sharon C. Bramlett, M. Edwin Hinds, Jr., John Jennings, John H. Muench, Brian T. Price, Mark S. Sharpe, Jr., James W. Sheedy and Walker H. Willcox. Representing Bar staff was Tara G. Smith.

Chairperson Price called the meeting to order.

The first item of business was approval of the minutes from the December 14, 2011, meeting. Ms. Blumenthal moved approval of the minutes. The motion was seconded, and it was approved.

The next item of business was discussion on the 2012 Bar Convention. It was noted that the evaluation results from the Section seminar were distributed to the Council prior to the meeting. Mr. Price stated that the seminar was well received.

Next was discussion on the 2013 Bar Convention. Mr. Price announced that the Convention was scheduled for January 24-27 at the Myrtle Beach Marriott Resort & Spa. He asked if the Council had a preference as to a date and time to conduct the CLE. After discussion, it was the consensus of the Council to host the seminar on Friday afternoon. It was noted that Mr. Hinds was to serve as the course planner. He welcomed feedback from the Council on potential speakers and topics. UCC Revisions and Current Activities in Exempt Transactions were recommended.

Mr. Price provided an update on the proposed changes to Articles 1, 7, & 9 of the UCC. He stated that he had asked Professor Philip Lacy with the USC School of Law to review the proposed amendments. Mr. Price was to follow-up with Professor Lacy regarding his assessment.

Next was discussion on proposed legislation related to the Matrix and Coffey cases. Ms. Blumenthal stated that the Committee was awaiting the U.S. Supreme Court’s decision regarding the proposed legislation.

Ms. Blumenthal provided an update on the proposed model of the Unincorporated Nonprofit Association Act. She stated that the Committee had reviewed the proposal and was close to accepting the act as written. She was to follow up with George Morrison and report her findings at the next meeting.

There being no further business, the meeting was adjourned.