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21 Advocate 1 (1978)

handle is hein.barjournals/adisb0021 and id is 1 raw text is: Vol. 21, No. 1 Boise, Idaho 1 1979 January, 1978 Federal Chartering For Corporations By Dean E. Miller, President Idaho State Bar The role of large business corporations in American society was the subject of a recent symposium at which I represented the Idaho State Bar. This symposium, in San Diego, sponsored by The American Law Institute - American Bar Association, Section on Cor- porations, Banking and Business Law, had as its main thrust, that large American corpora- tions have not been responsive to their con- stituency. That this constituency includes not only its shareholders but the larger com- munity of labor, consumers, and the com- munities affected by corporate action. It was assumed by those present, although not necessarily unanimously, that reform of the giant American corporation was neces- sary. The real query was how this reform should be accomplished. The proposals of the reform group were elo- quently expressed by SEC Chairman Harold Williams, Professors Carey of Columbia, Loss of Harvard, Schwartz of Georgetown, and in a more hair-raising manner, by Mark Green (co-author, Taming the Giant Corporation). The opposite views were likewise well ex- pressed by the establishment corporation counsel as well as some of the academics. Corporations Unresponsive In the view of the r,,rmers, it was evident that the large American business corpora- tions In fact and In public opinion have not generally been responsive to their share- holders. That management is not responsive to its board of directors, and that certainly corporations have not responded to community or social needs, except where compelled to do so. These facts, added to recent tales of bribes, kickbacks, self-dealing by corporate management, and the decreased public image, have given fuel to the call for reform. The suggestions for reform called for both internal structural corporate changes and ex- ternal actions, mostly by state and federal legislation. The internal structural changes favored by the reformers were such things as: 1. Independent audit committees (already re- (Continued on Page 6) SELF-I NSU RAN CI c I A0;IDERED IDAHO STATE BAR By Dean E. Miller, President FOR IAHO TATEBAR daho State Bar It should be news to no one that during the past few years malpractice Insurance rates for Idaho lawyers have Increased sharply, while coverages have been substantially reduced. Historically, most professional liability Insurance coverage was written on an occurrence basis. Coverage existed for acts or omissions occurring during the policy period, regardless of when a claim was asserted. In recent years most carriers have limited their policies to coverage for claims asserted during the policy period, requiring 66 APPLICANTS TOWRITE BAR EXAMINATION A total of 66 lawyers and law school graduates have applied to take the February Bar examination, which will be given Feb. 22-24 at the Supreme Court Building in Boise. The majority of the applicants are not from Idaho. A total of 37 law schools are repre- sented, and only 17 applicants are graduates of the University of Idaho College of Law. These are the applicants: ADAMS, VERNELLE DONA 1701 Hervey Street Boise, Idaho University of Idaho College of Law Moscow, Idaho ARCHIBALD, LANE R. 660 Butterfly Drive Idaho Falls, Idaho 83401 University of Idaho College of Law Moscow, Idaho ARKOOSH, JOHN CROMWELL R.R. #1 Gooding, Idaho 83330 University of Idaho College of Law Moscow, Idaho BARTON, RANDALL KENNETH P.O. Box 8781 Moscow, Idaho 83843 University of Idaho College of Law Moscow, Idaho -... -(Cntnued on Page 2) continuous purchase of policies (at higher premiums) to protect against risks arising from prior acts. Claims against lawyers have increased dramatically both in number and magnitude. For example, by 1970 all companies reporting to the Insurance Service Organization dis- closed 6,780 claims totaling $33 million in losses; by 1975 these same companies reported a total of 13,333 claims totaling $111 million in losses. Despite this increasing risk, the concurrent increase In premium cost has precluded many lawyers from obtaining pro- fessional liability coverage. Some companies which previously wrote such coverage In Idaho have withdrawn from the state com- pletely. Board Studies Proposal The Board of Commissioners of the Idaho State Bar and our Insurance Committee have been diligent In our efforts to find a company which would write insurance In Idaho on what we feel Is a realistic basis. We previously looked into self-insurance as a possible alter- native to our problems in this state. In our previous studies we frankly felt that the cost of setting up a self-Insuance pro- (Continued on Page 6) Miller Assumes Bar Presidency Dean E. Miller, Caldwell, became the presi- dent of the Idaho State Bar on Jan. 1, as a result of the rotation system now in effect for the Board of Commissioners. He replaces Louis H. Cosho, Boise. Under the rotaticn policy, the two senior commissioners serve as Bar president for six- month terms. Mr. Cosho, however, will remain a member of the Board of Commissioners until the Annual Meeting this July. Mr. Miller, a graduate of the University of Idaho College of Law, Is a partner in the firm of Gigray, Miller, Downen & Weston. He was elected to the Board of Commissioners In 1976.

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