October 22, 2010
The following is a summary of actions taken at the Oct. 22, 2010 meeting of the New Jersey State Bar Association Board of Trustees. The meeting was held at the New Jersey Law Center in New Brunswick. This summary does not constitute official minutes.
Audit: The trustees voted to accept the association’s audit for fiscal year 2010. Despite the sagging state and national economies, the New Jersey State Bar Association is in stronger financial shape than it was a year ago, the auditor’s report shows.
In the last fiscal year, the state’s largest lawyers group kept expenses under control, and increased its assets by more than $350,000. It marks the third year of improvements to the association’s bottom line.
Some of the state bar association’s financial gains this year were due to conclusion of a sale of the New Jersey Lawyer newspaper, nearly double the number of people in attendance at its Annual Meeting and Convention and profitable investments.
The association’s income comes primarily from member dues and the meetings it holds, such as the Annual Meeting, but the majority of the improved financial picture is the result of old-fashioned hard work.
New committee: President Richard H. Steen created a new committee that will examine issues, including the outsourcing of legal services, third-party financing of litigation, foreign lawyers practicing in the U.S., and alternative business structures in the profession. Former Trustee Ivette Alvarez will chair the committee, which will forward comments to the American Bar Association Ethics 20/20 Committee that is also studying the same issues.
Judge honored: The state bar trustees voted to recognize the contributions of Peter F. Womack, the senior judge of the Division of Worker’s Compensation, who served for 31 years and retired at the end of October.
Amicus: The trustees voted to seek amicus status in, Prime Accounting Dept. v. Twp. Of Carney’s Point, a case that is pending in the state Appellate Division involving property tax issues. The matter involves a property tax dispute between a municipality and a building tenant.