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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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