July 19, 1974
Re: Canon 5C(1) &(2)
Reference is made to your letter of June 20, 1974, submitting questions
for consideration by the Committee on Standards of Judicial Conduct.
There are nine members of this committee.' Seven of them have rendered opinions
on your request. One member is out of the country, and I, due to our long
association and friendship, have recused myself and do not express any opinion.
I merely report to you the opinions expressed by the other members.
In re your Paragraph 1), five members expressed the opinion that being a
member of an advisory board of a Federal Savings and Loan Association is
in conflict with Canon 5C (2); two members found no conflict.
One member finds no conflict with any of the questions raised by you, and
that you should not be required to resign from any capacity, nor divest
yourself of any stock or interest.
As to Paragraphs 2), 3), and 4), six members of the Committee suggest that
Canon 5 C would require resignation of your corporate capacity only; however,
they suggest that your attention be invited to Canon 5 C (1):
"A judge should refrain from financial and business dealings that tend
to. . . involve him in frequent transactions with lawyers or persons likely
to come before the Court on which he serves."
As to Paragraph 5), no conflict with Canon 5 C(2) is suggested in your involvement
in the limited partnership and the retention of your interest therein is
proper. However, it was suggested that the admonition concerning transactions
with lawyers is likewise applicable,
The Committee further respectfully suggested that the concluding paragraph
of the Code of Judicial Conduct pertaining to the effective date of compliance
with Canon 5, be called to your attention. That is, a judge would have until
September 30, 1975, to bring himself in strict compliance with Canon 5
/s/GUNTER STEPHENSON, as Chairman
COMMITTEE ON STANDARDS OF JUDICIAL
Gs :j ss
cc: All committee members