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Minutes August 2012

The Corporate, Banking & Securities Law Section Council met this date via conference call. Participating members included Laurie A. Becker, Jennifer C. Blumenthal, Sharon C. Bramlett, M. Edwin Hinds, Jr., John Jennings, Stuart M. Lee, George E. Morrison, Bo Russell, James W. Sheedy and Walker H. Willcox. Representing Bar staff was Tara G. Smith.

Chairperson Hinds called the meeting to order.

The first item of business was approval of the minutes from the April 12, 2012, meeting. Mr. Walker moved approval of the minutes. Ms. Bramlett seconded the motion, and it was approved.

The next item of business was discussion on the 2013 Bar Convention scheduled for January 24th – 27th at the Myrtle Beach Marriott Resort & Spa. Mr. Hinds announced that the Section seminar was scheduled for Friday, January 25th from 2:30 p.m. until 5:45 p.m. He welcomed suggestions on potential speakers and topics. After discussion, the following were suggested:

Update from the Opinions Committee (Jennifer C. Blumenthal)
TBA (Bo Russell)
LLC Case Law Update (George Morrison)
UCC Proposed Amendments (Prof. Philip Lacy)
506 Offerings

He noted that a Council and faculty dinner was scheduled for Friday, January 25th at 7:00 p.m. Mr. Hinds was to check the availability of the Dunes Club.

Next, Mr. Hinds briefly reviewed the FY2011-2012 Section goals. He welcomed input from the Council. After discussion, the following goals for the 2012-2013 Bar year were approved:

1. Conduct a Section CLE in conjunction with the SC Bar Convention.

2. Continue to inform Section members of significant developments in corporate, banking and securities law through the Section listserv, in E-Blast, and on the Bar Website.

3. Support the Legal Opinion Ad Hoc Committee of the Corporate, Banking & Securities Law Section of the SC Bar in the development of the Report on Legal Opinions to Third Parties.

Next was discussion on the proposed changes to Articles 1, 7 and 9 of the UCC. Ms. Smith was to follow-up with Mr. Price regarding the status of Professor Philip Lacy’s assessment.

In closing, Ms. Blumenthal provided an update on proposed legislation related to the Matrix and Coffey cases. She stated that there were no new developments and that the committee was still awaiting the U.S. Supreme Court’s decision regarding the proposed legislation.

There being no further business, the meeting was adjourned.