The Financial Institutions and Commercial Law Section (“FICL”) is dedicated to furthering the knowledge and experience of Oklahoma attorneys in issues involving both commercial law and in representing banks and other financial institutions.

Upon their election at last year’s annual meeting, FICL officers determined to continue with the initiative of the previous officers towards working to develop additional value for FICL members. A modest four point plan for the year was adopted. First, to pursue technological options for membership involvement through various means, including primarily the use of the “list serve” email feature available for use by the section to communicate with members and allow members to exchange professional experiences and knowledge on an on-going basis. Second, to increase the section’s involvement and profile in continuing legal education for FICL members. Third, to continue promoting FICL to young lawyers and law students and develop interest in these fields of law by again sponsoring the annual FICL writing contest and scholarship. Fourth, to hold a series of quarterly section planning meetings with officers and committee members to increase involvement in FICL with those interested in section leadership who could participate in shaping the section for the future. FICL has successfully completed three of these four, but has much more to accomplish in all areas in the year to come.

The test of the list serve was successfully made notifying section members of the system and alerting them to its potential and their opportunity to be involved. In addition, the section was represented at Jim Calloway’s September 12 section newsletter primer. Further efforts are needed to develop the FICL membership involvement to maximize the effective use of this tool for the section. It is hoped that over the next year the section can develop the use of the list serve and perhaps other methods of timely and efficiently addressing topics of interest to financial institution and commercial lawyers.

Members of the section participate with The Conference on Consumer Finance Law in presenting continuing legal education seminars throughout the year. The section will co-sponsor the annual Commercial Law Update program with the Oklahoma Bar Review and The Conference on Consumer Finance Law to be held on Dec. 4 and 5, 2008 at the Skirvin Hotel in Oklahoma City. FICL members are afforded a $100 discount on their enrollment fees. The section will host a luncheon for the attendees on day one of the program (Dec. 4) to promote the section to attorneys attending the seminar who are not members of the section.

The writing contest was promoted at the various Oklahoma law schools and judged by section officers with assistance from Professors Alvin Harrell, Brian McCall and Fred Miller. The top award went to Thomas Ishmael, OCU Law School. He was awarded a scholarship of $1500 for his work. OCU student Shane Mendenhall was also recognized by certificate for his entry. The awards were presented publicly at the Commercial Law Update program last December. The 2008 writing contest award winners will not be determined until after this report is due.

FICL’s UCC Committee and the subcommittee on legislation have continued to monitor legislation throughout the year and have been and continue to be involved in addressing commercial and financial institutions laws on the legislative level. Although no activity occurred this past year requiring direct section involvement, the historical support of NCUSL by FICL is noted and Professor Miller’s NCUSL connections for FICL are appreciated.

Officers of the section for year 2008 are Paul R. Foster, Chair, J. Mark Lovelace, Vice Chair, Brian McCall, Secretary/Treasurer, Robert T. Luttrell III, Program Coordinator, Mike Rubenstein, List Serve Liaison, Brian Pierson, Membership Officer, Kali Strain - Tulsa University, Law Student Representative, and John E. Koemel Jr., Immediate Past Chair. The section officers meet on an as needed basis to plan section activities and sponsored events. The annual meeting of the section will be held in conjunction with the OBA Annual Meeting in November. Officers for the coming year will be selected at that time. My thanks to our officers and members for an enjoyable and rewarding year and my best wishes to the next group of officers.

Paul R. Foster
Chairperson