Opinion 74-8
July 19, 1974

Re: Canon 5C(1) &(2)

Dear

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
CONDUCT

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cc: All committee members