Virginia Beach, June 20, 2003

Richmond, April 4, 2003

Williamsburg, January 17, 2003

Charlottesville, September 28, 2002

The Fall Meeting of the Board of Governors of the Real Property Section of the Virginia State Bar was held on Saturday, September 28, 2002, in room WB105 of the University of Virginia Law School in Charlottesville, Virginia.

The following persons were in attendance: Stephen R. Romine, Richard S. Mendelson, Joseph W. Richmond, Jr., Joseph M. Cochran, Larry J. McElwain, Lawrence A. Daughtrey, Paul A. Bellegarde, Stephen B. Wood, C. Grice McMullan, Jr., Jean D. Mumm, Ray W. King, Christina E. Meier, and David C. Helscher. Larry J. McElwain, Secretary of the organization kept the minutes.

Mr. Romine called the meeting to order at 1:15 p.m. (See official Agenda attached.)

Mr. Richmond noted the relatively small number in attendance and suggested that future meetings be held on Friday afternoons to promote turnout and provide an opportunity after the meetings for the members to get to know one another better. Toward that end it was suggested that name tags be provided and used. The Secretary was requested to review the Minutes for the organization's current attendance policy and that it be published in the Fee Simple. The discussion was taken under advisement by the Chairman.

Mr. Romine presented the minutes of the June 14, 2002, meeting of the organization, and upon motion duly made and seconded, the minutes were unanimously approved as written by those who attended the June 14, 2002, meeting. Those not in attendance at the June 14, 2002, meeting abstained.

Mr. Romine gave the financial report. He noted that the proposed budget for the current fiscal year was $28,800.00. The current account balance is slightly in excess of $26,000.00, with the sources of income being approximately 80% from members dues and approximately 20% from seminars. The amount of the annual dues came under discussion and it was noted that approximately 60% of the other Bar Sections were charging $20.00, while the Real Property Section=s annual dues are at $15.00. In light of the cost of production of the Fee Simple, as well as for other recurring expenses, it was thought that the dues should be increased. Upon motion duly made and seconded it was unanimously resolved that the annual dues be raised from $15.00 per year to $20.00 per year.

The next item of business was the Chairman's report which was delivered by Mr. Romine. The report evolved into a discussion regarding the enhancement of the organization. It was suggested that there be established an annual joint meeting with the real property section of the Virginia Bar Association and that the Chair of each Section become an ad hoc member of the other organization in order to better facilitate joint planning and enhance influence in the legislative process. It was further suggested that this organization look at the Trust and Estates Section, the most successful Section of the State Bar, as an example. It was noted that the Trust and Estate Section had successfully accomplished such interaction with its Bar Association counterpart, and further that it had an active academic representative. The ensuing discussion took note of the different focus of the two real property sections, ours being on education while the VBA=s is on legislation. Continuing the theme of how to enhance our organization the discussion shifted to the newsletter, which all agreed is the most significant product of this Section and should serve as a recruiting tool. Nonetheless it was noted that there was a need for more technical articles, and that there had been a dearth of submissions from members of large firms. It was also noted that large firms are not encouraging participation in State Bar activities and therefore recruiting will need to be done on a one-to-one basis. Upon motion duly made, seconded and unanimously adopted it was resolved that the Chair invite members of the VBA to join this Section at its winter meeting in Williamsburg, and further the officers of the Board of Governors were encouraged to meet with their VBA counterparts prior to the Williamsburg meeting in an attempt to obtain a commitment for the two groups to work together for their joint benefit. It was further moved, seconded and unanimously passed that one officer of the VBA be invited to become an ad hoc member of this organization in order to establish an official liaison. It was suggested that this organization also look into establishing a regular dialog with VAREAL.

Discussion followed that subcommittee reports of this organization be published in the Fee Simple. The Chair stated that he would send a letter to each subcommittee chair stipulating that the chair shall submit one substantive report per year to be published in the Fee Simple. A discussion ensued regarding use of Section funds to pay for conference calls between the members of each subcommittee to better facilitate participation. It was opined that this would help the subcommittee's focus. No motion was made on this matter. This concluded the Chairman's report.

The next item of business was the appointment of new Area Representatives. Prior thereto a discussion was had regarding the scrutiny of nominated parties. It was noted that the current procedure did not involve due diligence of any magnitude. Christina Meier volunteered to draft a proposal for procedures pertaining to the nomination and election of new Area Representatives. Thereafter, upon motion duly made, seconded and unanimously adopted Elliott M. Schlosser, Neil I. Title, James P. Downey and Cooper C. Youell were appointed as Area Representatives.

The Chairman next reported on the 21st annual practice seminar, after which Larry McElwain reported on the 7th annual advanced real estate seminar which is scheduled for April 4 and 5, 2003, at the Virginia Crossings Conference Resort north of Richmond. The Chair followed with a report regarding the annual summer CLE.

Subcommittee reports followed. Of note, Edward Waugaman initiated a discussion regarding funding for the materials distributed by the First Day in Practice subcommittee. It was noted that the Section has the third highest number of members of any Section of the State Bar, and that this was due in part to the success of the First Day subcommittee. Upon motion duly made, seconded and unanimously passed the First Day in Practice subcommittee was authorized to submit its expenses for material procurement for reimbursement from Section funds.

Among other matters noted in the subcommittee reports were that the fall deadline for Fee Simple articles was October 22; and that Bar Council had adopted rules that provided for open (to the public) disciplinary hearings.

Upon motion duly made, seconded and unanimously passed the meeting was adjourned at 3:15 p.m.

Respectfully Submitted,

Larry J. McElwain, Secretary

AGENDA
FALL MEETING OF THE BOARD OF GOVERNORS OF
THE REAL PROPERTY SECTION OF
THE VIRGINIA STATE BAR

September 28, 2002
University of Virginia Law School, Room WB105
Charlottesville, Virginia

1. Call to order and welcome
2. Approval of minutes from the June 14, 2002 meeting
3. Financial Report
4. Area Representatives - Appointments/Resignations Appointment - Elliott M. Schlosser, Neil I. Title, James P. Downey
5. CLE Seminars & Workshop - Steve Romine/Larry McElwain (See attached Caplinger Memo)
6. Subcommittee Reports

1. Bankruptcy: Stephen B. Wood
2. Current Developments and Legislation: Lucia Anna Trigiani
3. Environmental and Land Use: Steven W. Blaine
4. Ethics: Susan M. Pesner
5. First Day in Practice: Edward R. Waugaman
6. Housing: Richard B. Chess
7. Information & Technology: Douglass W. Dewing
8. Leases: John W. Steele
9. Membership: Randy C. Howard
10. Newsletter - the Fee Simple: Lynda L. Butler
11. Small Firm and Sole Practitioner: Allen C. Tanner
12. Title Insurance: Edward R. Waugaman
13. VBA Forms: Joseph W. Richmond, Jr.

7. Liaison Reports

Bar Counsel - Ray W. King
Old Dominion Bar Association - Manus E. Holmes

8. Old Business
9. New Business
10. Adjourn

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Williamsburg, Virginia January 17, 2003
(postponed to January 31 because of inclement weather)

MINUTES OF THE MEETING OF
THE BOARD OF GOVERNORS OF
THE REAL PROPERTY SECTION OF
THE VIRGINIA STATE BAR

Williamsburg, Virginia
January 31, 2003

The winter meeting of the Board of Governors of the Real Property Section of the Virginia State Bar was held on Friday, January 31, 2003, at 12:00 in Room 124 of the Marshall-Wythe School of Law, College of William and Mary in Williamsburg, Virginia.

The following persons were in attendance: Paula S. Caplinger, Lee Hickok, Eric Zimmerman, Steve Romine, Grice McMullan, Jay Steele, Neil Kessler, John David Epperly, Doug Dewing, Jean Mumm, Lisa Murphy, Karen Davis, Lynda Butler, Paul Bellegarde, Neil Title and Chris Dillon. Steve Romine, Chair, conducted the meeting. Paula Caplinger, Vice-Chair, kept the minutes.

Mr. Romine called the meeting to order at 12:15. (See official Agenda attached.) Attendees introduced themselves and Mr. Romine requested anyone having corrections to the Section roster please forward those to him.

Mr. Romine presented the minutes of the September 28, 2002 meeting of the Real Property Section. Mr. Romine noted a correction needed in the September minutes. The Section dues were increased at the June 2002 meeting, not the September meeting. The minutes should be corrected to reflect that the motion for the dues increase occurred and was unanimously approved in June, not September. Upon motion duly made and seconded, the minutes, as corrected, were unanimously approved by those who attended the September 28, 2002 meeting. Those not in attendance at the September meeting abstained.

In Randy Howard's absence, Mr. Romine gave the membership report. As of January 1, 2003, the total membership of the Real Property Section is 1,869, of which 1,838 are active or associate members of the Virginia State Bar. The Section remains number two as to active or associate members and number three as to total membership.

Mr. Romine gave the financial report. He reported a present balance of $26,462.35. A discussion followed regarding the principal activities of the Section and the consensus of the group was that we should use our funds for educational seminars and the Fee Simple, rather than allowing a budget surplus to occur. Any surplus funds in the budget are returned to the State Bar general fund at the end of the fiscal year. Last year we returned over five thousand dollars to the State Bar. Mr. Romine urged all Section members to submit mileage expenses. He is presently constructing the Section's 2004 budget, and would welcome any ideas on expense matters. He suggested we need to plan proactively for expenses, rather than simply reacting to expenses.

In order to better "track" all of the Section's expenses and plan appropriately, Mr. Romine suggested giving the Section Secretary the added function of serving as Section Treasurer. The expanded position would allow the Secretary/ Treasurer to monitor the Section's available funds and obtain a full report prior to each meeting as to how any funds had been spent. Upon motion of Eric Zimmerman, which was seconded by Grice McMullan, the group unanimously approved expanding the Secretary's position to include the function of treasurer. Mr. McElwain, the current Section Secretary will be responsible for obtaining a financial report prior to the April meeting for presentation at that meeting. Mr. Romine noted that the Section Chair would continue to approve all expenses.

Next, Lee Hickok, from Virginia CLE, gave a status report on the Section's upcoming seminars. The Land Use Seminar is coming up soon. Virginia CLE offers this seminar in conjunction with the Environmental and Land Use subcommittee. The 21st annual real estate seminar is finalized and will be held in four locations throughout the State in May. The 7th Annual Advanced Real Estate Seminar is "coming together." It will be held April 4 and 5 at Virginia Crossings in Glen Allen, Virginia. The group discussed the difficulty of planning seminars and finding quality speakers. Steve Romine anticipates his proposed subcommittee restructuring will spur involvement in seminar planning. The Section Vice-Chair should chair the new "programs" subcommittee with active participation by other subcommittee members (especially those real estate practitioners involved in ACREL). Having more members as a resource should simplify the seminar planning process.

Lee Hickok offered that if the Section wanted to plan any seminars, other than the three we currently offer, that he would be available to assist. Telephonic seminars are becoming more popular. Also, if anyone is interested in speaking at a seminar, please notify Lee or the Program Subcommittee Chair. If anyone is interested in signing up to monitor a video presentation (taped from a live seminar) please notify Lee. The volunteer-monitor would receive "free" continuing legal education credits. This would also provide an opportunity for the Section to pass out copies of the Fee Simple to prospective Section members. Lee Hickok will send out an e-mail soliciting the Section membership for volunteer-monitors prior to video replays of seminars.

Jean Mumm reported that the annual summer program held in conjunction with the Virginia State Bar meeting in Virginia Beach, Virginia is "on track." The program will be held on June 20, 2003 and the topic is "mold." Jean presently has the speakers lined up and is awaiting word from the Virginia State Bar as to the exact program time slot the Section will be given.

Paula Caplinger reported that the 21st Annual Seminar is finalized. The program will be held May 6 in Fairfax, May 7 in Norfolk, May 14 in Richmond and May 15 in Roanoke. All the speakers and topics have been arranged. Please sign up for the seminar and support the Section in this effort. Pamphlets advertising the seminar have been mailed and a subsequent mailing (closer to the seminar dates) will also occur.

Mr. Romine revisited the topic of "qualifications" of individuals that desire to serve as area representatives of the Section. Mr. Romine will contact Christina Meier, who had agreed at the September meeting to prepare written guidelines for those individuals desiring to serve as area representatives. Paula Caplinger advised that the Section had prepared such guidelines a few years ago. Mr. Romine will contact Larry McElwain and ask Mr. McElwain to review the Section's minutes and by-laws and report at the next meeting with regard to what guidelines the Section currently has in place for area representatives. The group agreed the Section must encourage involvement by real estate practitioners, rather than discourage involvement by setting up arbitrary attendance policies or other stringent guidelines. A discussion ensued regarding how our meetings could be more "user friendly." Most attendees felt the meetings might garner more attendees if held on Friday and if food were served.

Upon motion duly made and seconded, Debbie Merz of the law firm of Shaheen and Shaheen was nominated as a new area representative for the Tidewater area. Ms. Merz was unanimously approved as an area representative. Mr. Romine will send her a welcome letter.

Mr. Romine offered the Section Chair's Report. In order to encourage member participation and allow members to focus on special areas of practice expertise, Mr. Romine suggested a revision of the Section subcommittee structure. Under the proposal, the Section would have ten subcommittees. Four of those subcommittees would be standing subcommittees. They would be: Technology, Membership, Fee Simple Newsletter and Programs. Six of the subcommittees would be substantive subcommittees. The six substantive subcommittees would be: Residential Real Estate, Commercial Real Estate, Creditor's Rights and Bankruptcy, Land Use and Environmental, Title Insurance and Ethics. Upon motion of Eric Zimmerman, seconded by Paul Bellegarde and unanimously approved by the group, Mr. Romine was requested to review the By-laws of the Section to determine what amendments are required to revamp the Section subcommittee structure and to report back at the April meeting to the group so that this proposal may be implemented. Mr. Romine will begin to contact individuals to chair the new subcommittees and anyone with an interest in chairing or serving on a specific subcommittee should contact Mr. Romine.

Mr. Romine indicated that the Virginia Bar Association has made overtures to our Section and would like to work cooperatively with our Section. The VBA Real Estate Section could assist in providing articles for the Fee Simple or speakers for educational programs. They also have solicited our input on real estate related legislation. Mr. Romine suggested a joint committee that could be formed to work with the VBA to determine how we might work cooperatively. Grice McMullan and Paul Bellegarde volunteered to serve on this committee with Mr. Romine and members of the VBA.

As part of the Newsletter subcommittee report, Lynda Butler advised that deadline for the upcoming issue of the Fee Simple is late April. Several attendees suggested articles for the next issue and Mr. Romine volunteered to send out a mass e-mail to all board members and area representatives to solicit articles. Doug Dewing advised, on behalf of the Information and Technology subcommittee, that he has several technology initiatives and reports that he is presently reviewing.

There were no other subcommittee reports.

There were no Liaison reports from the Old Dominion Bar Association or Bar Counsel.

There was no old business discussed.

Under new business, Neil Kessler advised that the Real Estate Transactions in Virginia manual is being reviewed and supplemented. If you authored a chapter for the manual, Virginia CLE will contact you to review and supplement the chapter. Keeping our resources current is important and the Section is grateful for those members that undertake this vital task.

The meeting adjourned by motion duly made and seconded at 2:45 p.m.

Respectfully Submitted,

Paula S. Caplinger Vice-Chair

AGENDA
WINTER MEETING OF THE BOARD OF GOVERNORS
OF THE REAL PROPERTY SECTION OF THE VIRGINIA STATE BAR
January 17, 2003
Marshall Wythe School of Law, Room 124
College of William and Mary
Williamsburg, Virginia

1. Welcome

2. Approval of minutes from the September 28, 2002 meeting - McElwain

3. Financial Report - Romine

4. Area Representatives - Appointments/Resignations - Romine

5. Annual CLE Seminars

A. 21st Annual Real Estate Practice Seminar - Caplinger
B. 7th Annual Advanced Real Estate Seminar (April 4 & 5 - Richmond Crossings) - McElwain
C. Annual Summer CLE - Mumm

6. Chair's Report - Discussion of Committee Reorganization

7. Subcommittee Reports

A. Bankruptcy - Wood
B. Current Developments and Legislation - Trigiani
C. Environmental and Land Use - Blaine
D. Ethics - Pesner
E. First Day in Practice - Waugaman
F. Housing - Chess
G. Information & Technology - Dewing
H. Leases - Steele
I. Membership - Howard
J. Newsletter - the Fee Simple - Butler
K. Small Firm and Sole Practitioner - Tanner
L. Title Insurance - Waugaman
M. VBA Forms - Richmond

8. Liaison Reports

Bar Counsel- King
Old Dominion Bar Association - Holmes

9. Old Business

10. New Business

11. Adjourn

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MINUTES OF THE MEETING
OF THE BOARD OF GOVERNORS OF
THE REAL PROPERTY SECTION OF
THE VIRGINIA STATE BAR

Richmond, Virginia
April 4, 2003

The Spring Meeting of the Board of Governors of the Real Property Section of the Virginia State Bar was held on Friday, April 4, 2003, at the Virginia Crossings Resort in Richmond, Virginia.

The following persons were in attendance: Stephen R. Romine, Paula S. Caplinger, Deborah Merz, Craig Erdman, Karen Davis, Jean Mumm, Ray W. King, Randy Howard, Mark Williamson, Pia Trigiani, Cooper Youell, Lawrence Schonberger, Steve Wood, Courtland Traver, Susan Siegfried, Rick Chess, David Stroh, Larry McElwain, Cynthia Nahorney, Grice McMullan, Michael Barney, Joseph Cochran, Lee Hickok and Christina Meier. Larry J. McElwain, Secretary of the organization kept the minutes.

Mr. Romine called the meeting to order at 10:15 a.m. (See official Agenda attached.)

At the request of the chairman the attending members introduced themselves.

Mr. Romine presented the minutes of the January 31, 2003, meeting of the organization, and upon motion duly made and seconded, the minutes were unanimously approved as written by those who attended the January 31, 2003, meeting. Those not in attendance at the January 31, 2003, meeting abstained. Mr. Romine noted that the actions taken at the January 31, 2003, meeting including expansion of the duties of the Secretary which henceforth shall be those of a secretary/Treasurer. The Secretary/Treasurer shall deliver the financial report at future Board meetings.

Mr. Romine noted that this meeting was being held in conjunction with the 7th Annual Advanced Real Estate Seminar, and that attendance at the seminar was less than anticipated, and significantly less that at the 6th Annual Seminar which was held in Charlottesville_ A discussion regarding how to stimulate attendance at future seminars was had, however no motions were presented for consideration.

Mr. Romine gave the financial report. After reviewing the Section's financial Statement he noted that the highest portion of the budget was devoted to costs attendant with publication of the Fee Simple, followed by costs associated with meetings and seminars. It was noted that the Section had excess funds in the current budget and there was discussion about the possibility of funding a speaker at the mid-year State Bar Seminar, as part of the Section's mission is to reach out to other organizations, however no motion was made in this regard. Upon motion duly made and seconded the financial report was unanimously passed.

Paula Caplinger next gave a report on the Annual Seminar set for May 2003. She noted that this seminar, as opposed to the Advanced Seminar, was geared to a more basic level of practice with the hope of attracting a wider base of attendance. She noted that attorney staff members were welcome to attend. Once again the case portion of the program would be provided by the National Legal Research Group, and made a motion to cap the expenses for that group at $4,000.00. The motion was duly seconded and passed by unanimous vote. Lee Hickok noted that a reasonable number of attendees had already registered for that seminar.

Discussion turned to the summer program, and it was noted that Jean Mumm would be in charge of conducting that presentation which is set for Friday, June 20 at 11:00 a.m. The topic will be "Mold" and there will be a panel of three speakers. Immediately subsequent to the program the summer session of this group will be called to order, the anticipated time being 12:30.

The next matter of business that came under discussion was the expectations regarding active participation by the area representatives. It was noted that the September 25, 1999 minutes stated that if a Board member missed two consecutive meetings he/she would be subject to dismissal, while no mention of attendance requirements for area representatives was made. However each area representative was expected to serve on a sub-committee. The person who served as the conduit for membership should serve as a mentor to new representatives. Upon motion made by Ray King, duly seconded and unanimously passed it was resolved that no standard for attendance at meetings would be adopted in light of the laxity of enforcement in the past, and that once appointed such appointment would be in perpetuity. Discussion was had regarding formalization of the process of recruiting new members, and it was decided that there should be a formal offer and acceptance for representatives. Christina Meier agreed to draft proposed guidelines for area representatives.

Mr. Romine next suggested that the Fee Simple include photographs of all members. After discussion it was decided that Mr. Romine would contact Linda Butler to see if the idea was feasible.

The next item of business was the appointment of new Area Representatives. Upon motion duly made, seconded and unanimously adopted Cynthia Nahorney and Lisa Murphy were appointed as Area Representatives.

Mr. Romine then led a discussion regarding the realignment of committees. He proposed that the number of committees be reduced to six, and that each committee was responsible for generating at least one article each year for the Fee Simple. It was suggested that in order to enhance committee efforts that each committee should conduct a fifteen minute meeting in conjunction with the four board meetings. After discussion, no motion was made to put into effect the foregoing, and discussion evolved into the Section's Mission Statement. It was suggested that the Mission Statement be reviewed annually, and further that the committee chairs should meet as a group once each year, again in conjunction with one of the four scheduled Board meetings. It was suggested that the budget could sustain an annual retreat in an effort to invigorate enthusiasm and strengthen networking ties. Wintergreen resort outside Charlottesville was suggested as a possible location for such a retreat. It was acknowledged that the agenda for such a meeting would be important and that one should be developed and circulated in advance for input from the membership. Paula Caplinger and Larry McElwain were asked to undertake a study of this matter with an eye toward a fall meeting.

There next ensued a discussion regarding the interaction of the Virginia State Bar and the Virginia Bar Association. Grice McMullan, Pia Trigiani and Mike Barney led the discussion. It was acknowledged that the leadership of the two organizations needs to interact more often. It was noted that 4-5 years ago there were two joint meetings of the organizations. With this thought in mind it was suggested that the VBA leadership, and possibly the entire membership, be included in the proposed fall retreat with an eye toward honing the Mission Statement.

Court Traver implored those in attendance to submit article for the Fee Simple, suggesting that the U.S. Patriot Act was ripe for such an article, and that case articles were needed.

Ray King delivered a report on the activities of Bar Counsel.

Given the time, committee reports were waived, and upon motion duly made, seconded and unanimously passed the meeting was adjourned at 12:15 p.m.

Respectfully Submitted,
Larry J. McElwain, Secretary

AGENDA
SPRING MEETING OF
THE BOARD OF GOVERNORS OF
THE REAL PROPERTY SECTION OF
THE VIRGINIA STATE BAR

10:00 a.m. April 4, 2003
Virginia Crossings Conference Resort
Glen Allen, Virginia

1. Welcome - Romine

2. Approval of minutes from the January 31, 2003 meeting - McElwain

3. Membership Report - Howard

4. Financial Report - Romine

5. Annual CLE Seminars

A. 21st Annual Real Estate Practice Seminar - Caplinger
B. Annual Summer CLE - Mumm

6. Area Representatives - Meier

7. Chair's Report - Discussion of Committee Reorganization - Romine

8 Subcommittee Assignments

A. Residential Real Estate (Open)
B. Commercial Real Estate (Open)
C. Creditor's Rights and Bankruptcy (Wood)
D. Land Use and Environmental (Blaine)
E. Title Insurance (Gregory)
F. Ethics (Pesner)
G. Technology (Dewing)

9. Cooperative Initiative with VBA - McMullen

10. USA Patriot Act - McCauley

11. Fee Simple - Butler

12. Liaison Reports

Bar Counsel - King
Old Dominion Bar Association - Holmes

13. Old Business

14. New Business

15. Adjourn

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MINUTES OF THE MEETING OF
THE BOARD OF GOVERNORS OF
THE REAL PROPERTY SECTION OF
THE VIRGINIA STATE BAR

Virginia Beach, Virginia
June 20, 2003

The Summer Meeting of the Board of Governors of the Real Property Section of the Virginia State Bar was held on Friday, June 20, 2003, at the Holiday Inn-Sunspree Hotel in Virginia Beach, Virginia.

The following persons were in attendance: Stephen R. Romine, Paula S. Caplinger, Cynthia A. Nahorney, K. Wayne Glass, Michael E. Barney, Joseph W. Richmond, Jr., Courtland L. Traver, Charles M. Lollar, C. Grice McMullan, Jr., J. Page Williams, Lisa Murphy, Steven W. Blaine, Richard B. Chess, Joseph M. Cochran, James Downey, Douglass W. Dewing, John David Epperly, Thomas F. Williams, Edward R. Waugaman, James M. McCauley, Jean D. Mumm, Stephen C. Gregory, Richard Mendelson, Susan M. Pesner, and Larry J. McElwain. Larry J. McElwain, Secretary of the organization kept the minutes.

Mr. Romine called the meeting to order at 12:40 p.m. (See official Agenda attached.)

Mr. Romine previewed the Agenda for the meeting and then presented the minutes of the April 4, 2003, meeting of the organization, and upon motion duly made and seconded, the minutes were unanimously approved as written by those who attended the April 4, 2003, meeting. Those not in attendance at the January 31, 2003, meeting abstained. Mr. Romine noted that the Section was second in the number of active Members with 1,838 and third in overall Membership.

Ms. Caplinger gave the financial report. After reviewing the Section's financial Statement she noted that taking into account anticipated expenses the Section will nonetheless have excess funds in the current budget. It was noted that last year when this occurred the Section returned funds to the Bar. After discussion about reimbursing some of the excess to CLE and covering some additional expenses related to the Fee Simple, Mr. Waugaman proposed that additional funds be allotted to the First Day in Practice program in order to update the discs given out at the fall induction of new attorneys. Discussion then centered on using some of the funds as a competition reward to spur Fee Simple articles written by law students, and weather or not such would be approved by the Bar. Ms. Pesner suggested that each law school be solicited, with the results called research, as opposed to competition. Upon Mr. McMullan's motion, seconded by Mr. Richmond, it was unanimously resolved to have the Chair allocated excess funds to the First Day in Practice program, and for matters to benefit the Fee Simple.

Mr. McMullan next began a discussion about coordinating activities with the VBA, indicating his desire to have a combined meeting of the V5B and the VBA. There ensued a discussion about non-paying attendees at the seminar given in conjunction with the annual meeting thereby depriving the Bar of needed CLE income, and it was opined that attendees should have to be signed up for the annual meeting in order to receive credit for the seminar. Mr. Romine stated that the Chair would continue to monitor the issue.

Mr. Romine noted that there has been a great deal of confusion surrounding the U.S. Patriot Act, and attorney's obligations pursuant thereto. Mr. McCauley, having recently written an article published in the Fee Simple on the matter, was given the floor. He noted that the Treasury Department was currently looking at rules pertaining to the Act, that CFR's had been promulgated as had an Executive Order, however there appeared to be contradiction between the foregoing. The Treasury Department has not implemented requirements, however it was the duty of all citizens to comply with the dictates of the Act. He stated that ultimately specific regulations will be forthcoming, but that Treasury was still seeking input as to whether persons involved in real estate transactions are going to be held to the same standards as other industries, such as banking. James H. Rodio with the firm of Holland & Knight, LLP, in McLean was introduced by the Chair. Mr. Rodio opined that the Executive Order is broad in scope and that real estate attorneys are not differentiated from any other industry that is covered by the Act. The Act, according to Mr. Rodio, expands the definition of financial institutions, and that the safe course at this time, until a final determination is made, is to consider closing attorneys as financial institutions for purposes of the Act. He stated that the Executive Order stipulates that in the event a potential client appears on the list referred to in the Act, attorneys are prohibited from representing such person, and that if the list is not reviewed until subsequent to being retained by a person appearing on the list, counsel is prohibited from engaging in a transaction involving such a person. If no representation occurs, the attorney has no obligation to report the attempted engagement, however if the attorney has been retained and then discovers his client to be on the list, the attorney is under an affirmative obligation to report the matter to the Office of Foreign Asset Control both as to the client and the matter, however the attorney may not inform the client of his actions. This obviously brings into question ethical issues which presumably will be addressed in the final form of the regulations. Mr. Traver noted that title companies are indexing the list, and in his opinion attorneys should do likewise. In his opinion if you have been retained and then check the list and find your client on it you should tell your client that you can not handle the matter. while such action exposes counsel to a grievance it is Mr. Traver's opinion that sanctions would not in all probability be issued. Mr. McCauley then raised the issue of when an attorney may terminate representation, and whether such action is prejudicial to your client. He agreed that it would be unwise to close any transaction where counsel had knowledge of the appearance of a client on the list. It was suggested that this matter would be good material for a future seminar.

Mr. Romine next thanked Ms. Butler and Mr. Traver for their efforts related to the Fee Simple and noted that it is the gold standard as far as Section news letters are concerned. He repeated is desire for committees to be assigned to contribute articles to the Fee Simple on a recurring basis, and that the possibility of having law school students contribute articles should be explored.

Mr. Romine next thanked Ms. Caplinger and Mr. McElwain for organizing the seminars during the past year.

Committee reports were submitted in written form only and were not reviewed due to a lack of time. Mr. Romine suggested that the committees have meetings in conjunction with the fall meeting, perhaps by meeting early over breakfast.

Mr. Waugaman raised the issue of having Circuit Court Clerk's refusing to record documents due to inconsequential mistakes on cover sheets, especially when it may take some period of time between submission and rejection. No action was taken on this matter.

Mr. Romine suspended the giving of liaison reports.

Mr. Romine next introduced a slate for incoming officers as follows: Ms. Caplinger as Chair, Mr. McElwain as Vice-Chair and Mr. Dewing as Secretary. In addition Karen Davis was nominated to become a Board member. The motion was duly seconded and unanimously passed.

Upon nomination and unanimous passage the following were named Area Representatives: Lucy Davis, James Downing and Lawrence Schoenberger from the Northern Region; Jeffrey Maynard from the Tidewater Region, Pamela Sellers from the Central Region.

Mr. Romine noted that the dinner would had, as usual, at Steinhilber's Restaurant. Mr. Romine next stated his gratitude for all of the support he has received during his tenure as Chair, and turned the meeting over to Ms. Caplinger who assumed the duties of the Chair.

Upon motion duly made, seconded and unanimously passed the meeting was adjourned at 1:40 p.m.

Respectfully Submitted,
Larry J. McElwain, Secretary

AGENDA

AGENDA ANNUAL MEETING OF THE BOARD OF GOVERNORS OF THE
REAL PROPERTY SECTION OF THE VIRGINIA STATE BAR
12:30 p.m. June 20, 2003
Virginia Beach, Virginia

1. Welcome - Romine

2. Approval of minutes from the April 4, 2003 meeting - McElwain

3. Membership Report - Howard

4. Financial Report - Romine

5. Initiative with VBA - McMullan

6. USA Patriot Act Update- McCauley

7. Fee Simple - Butler/Traver

8. Programs - Caplinger

9. Subcommittee Reports

A. Commercial Real Estate (McMullan/Williamson)
B. Creditor's Rights and Bankruptcy (Wood)
C. Ethics (Davis/Pesner)
D. Land Use and Environmental (Blaine)
E. Residential Real Estate (Meier)
F. Technology (Dewing)
G. Title Insurance (Gregory/Waugaman)

10. Liaison Reports

Bar Counsel - King
Old Dominion Bar Association - Holmes

11. Report of Nominating Committee / Election of Secretary/Treasurer and Board Member

12. Old Business

13. New Business

14. Adjourn

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