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24 Bull. Sec. Corp. Banking & Bus. L. [i] (1986-1987)

handle is hein.journals/txjbus24 and id is 1 raw text is: $B ULLETIN *. .HE S .* **--'---- OF THE SECTION ON CORPORATION, BANKING & BUSINESS LAW vol. 24 August, 1986 No.1 OF CURRENT INTEREST ... Interstate Banking is Comingl ... Interstate Banking is Coming! ... and probably limited branch banking, too. This issue includes the text of recently enacted legislation that authorizes interstate banking in Texas (S.B. 11) effective January 1, 1987 and that authorizes limited branch banking (S.B. 10) if a proposed enabling amendment to the Texas Constitution (S.J.R. 4) is approved by voters on November 4, 1986. Also included are brief analysis of each bill by their sponsors. A more detailed analysis of this legislation will appear in the November 1986 Bulletin. Page 1. Exercising Setoff Rights in Texas: Legal Concerns and Pitfalls by Joseph Jude Norton, Professor of Business and Banking Law, SMU School of Law and special banking counsel, Locke, Purnell, Boren, Laney & Neely, Dallas, discusses the legal elements required to establish a right of setoff, liability for wrongful setoff and avenues of attack against a wrongful setoff and practical consider- ations in electing to exercise setoff rights. Page 17. Texas Corporate Law Develop- ment - Section Files Amicus Brief in Castleberry v. Branscum, 29 Tex. S. Ct. J. 481 (1986). On July 2, 1986, the Texas Supreme Court rendered a controversial opinion which appears to suggest that the corporate veil may be pierced on simple grounds of equity. The Council of the Section believes that such a holding would excessively weaken the recognition given separate corporate existence in Texas and the Chairman of the Section appointed an ad hoc committee to prepare an amicus brief on behalf of the Section, which has been filed. Copies of the brief may be obtained from the Court or from Sam Rosen, Chairman of the Section, or Marc Folladori, Vice-Chair- man of the Section. See back cover. Page 29. Recent Developments in Corporate and Securities Laws are discussed in an article by James A. Blalock, III, Dianne L. Capps and Joseph Dannen- meier, Thompson & Knight, Dallas. Page 31. Recent Texas Cases on Partner- ship Law are discussed in an article by David H. Oden and Jeffrey A. Howard, Haynes & Boone, Dallas. Page 36. Recent Developments in Bankruptcy are discussed in an article by Charles A. Beckham, Kemp, Smith, Duncan & Hammond, El Paso, John E. Leslie, Shannon, Gracey, Ratliff & Miller, Fort Worth, and Alan S. Trust, Pulliam, Hale, Spencer, Goodman, Stanley, Pronske & Trust, Dallas. Page 38. Recent Texas Regulatory Develop- ments by Michael W. Tankersley, Hughes & Luce, Dallas, inaugurates quarterly coverage of actions by Texas regulatory agencies of relevance to the Section, including the Finance Com- mission, the Securities Board and the Secretary of State. In this issue regula- tory actions relating to remote banking facilities, increased regulation of Texas trust companies and the Texas Securi- ties Act Section 6H. exemption for commercial paper are discussed. Page 41. A bibliography of Corporate, Bank- ing and Business Law Articles in Texas Legal Publications is provided by Valerie J. Rodawalt, Librarian, Hughes & Luce, Dallas. Also included is a compendium of Texas UCC verifi- cation and reporting services. Page 44. A CLE Calendar of courses pre- sented in Texas relating to corporation, banking, bankruptcy, and business practice is included at Page 46. The Section's program on Trends in Lender Liability presented at the 1986 State Bar Convention in Houston in June was a great success. An encyclo- pedic outline on the subject authored by William M. Burke of Shearman & Sterling, Los Angeles, was distributed at the program. Copies may be obtained from Lewis Schwartz, Secre- tary/Treasurer of the Section, for the cost of reproduction, $10.00, at the address on the back page. Sam Rosen, Chairman of the Section, is to be congratulated for the fine results of his hard work in organizing the pro- gram. At the Section's Annual Meeting at the State Bar Convention the Section officers and Council members desig- nated on the back cover were elected to office for 1986-87. Readers inter- ested in serving on a Section Commit- tee in the coming year are encouraged to contact Sam Rosen. Committee Chairmen for the coming year will be announced in the next Bulletin. At the Annual Meeting the winners of the Sec- tion's 1986 Writing Contest were announced. The lucky winners are Vickie Lynne Behrend, University of Texas Law School for a Comment and Faron Webb, Texas Tech Law School, for a Case Note.

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