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1 Bus. L. Memo 1 (1980-1981)

handle is hein.journals/buslwme1 and id is 1 raw text is: Volume 1 Number 1 September 1980 From the Section Chairman .. Inside. o .. I am pleased to address our Section members in this first issue of our Newsletter. The Business Law Memo is a major milestone in our Section's history. I would like to commend those who have brought it about, notably David Nelson, who chaired the Committee that formulated the concept; Henry Wheeler, who, as Secretary of the Section, developed the editorial format and logistics; and John Stoddart, who, as Chairman of the Section, encouraged its publication in countless ways. The Honolulu meeting was remarkably successful. Our committee meetings and programs were very well attended despite the temptations of beach and sun. The Section and its committees look forward to an out- standing year. Committee meetings in Honolulu confirmed that members are hard working, enthusiastic and dedicated. We have a dozen new, well-qualified Committee Chairmen in accordance with the Section policy of rotating Chairmen who are veterans of five or more years. The Section owes a large debt to the retiring Chairmen. To assist the work of the Committee Chairmen, I have appointed the second, third and fourth year Council members to serve as liaisons to designated committees. The liaisons are in no way intended to diminish the role of Chairmen, but to help them. I have asked the Section Council to consider changing the name of the Section to something briefer and more indicative of our present activities. The Corporation and Business Law Section and the Business Law Section have been suggested. Support for the latter was perhaps hinted during the Section meetings in Honolulu when several speakers referred to the Business Law Section. The Section membership will have the final word on the proposed name change, perhaps at next year's annual meeting in New Orleans. An Ad Hoc Committee on Reports by Management has been organized to monitor and assist in the private sector's response to the SEC's challenge in withdrawing its proposal to mandate management reports on internal controls and auditor comment on them. The Section's spring meeting will be held at the Fairmont Hotel in San Francisco on March 27, 28 and 29. This location change from Washington and Williamsburg is designed to encourage \,participation by members in the West. All Section members are welcome to attend, and I hope we will have a sizable turnout. Finally, I would like to remark on John Stoddart's great leadership as Section Chairman during the past year. In his characteristically quiet way, he led the Section extremely well in many initiatives. All of us are deeply in his debt. The quality of past leadership assures that this will be a very successful year for the Section. I look forward to working with all of you to perpetuate our tradition of achievement. A. A. Sommer, Jr. Washington, DC Highlights of the Council Meeting in Honolulu appear on Page 2. SEC changes corporate disclosure requirements. Page 2. * Amendments adopted to the indemnification provisions of the Model Business Corporation Act. Page 3. Status of legislative developments related to privacy summarized. Page 3. Controversial elements of the proposed Model Rules of Professional Conduct analyzed. Page 5. Spotlight on Section Committees. Page 7. Upcoming Section Activities. Page 8. New Section Officers. Page 8. SECTION OF CORPORATION, BANKING AND BUSINESS LAW I/L Volume I Number I September 1980 V nesn ___ ___ANL_ lt4w

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