May 3, 1978
Re: Canon 5C
You have requested an opinion of the Committee as to whether a judge may serve, or continue to serve, as a Director of a Federal Savings and Loan Association. You draw a distinction between a Federal Savings and Loan Association and a bank in that a savings and loan association is a "mutual" and a bank has "stock", resulting in the Directors of the Federal Savings and Loan Association having no proprietary interest in the association.
Canon 5C (2) provides that a judge "should not serve as an officer, director, manager, advisor, or employee of any business." The members of the Committee are unanimously of the view that said Canon prohibits a judge from serving as a Director of a Federal Savings and Loan Association. For similar opinions, published in the Florida Bar Journal, see opinions 73-1, 73-4, 73-6, 73-12, 73-13, 74-12, 74-14, 74-16, 74-17, 75-23, 75-31, 76-18, 76-21, 77-3 and 77-6.
Tyrie A. Boyer, Chairman
Committee on Standards of Conduct Governing Judges
Participating members: Judges Boyer, Carlisle, Haverfield, Hewitt, Murphee, O'Connell, Stephenson, Turner and Samuel J. Powers, Attorney