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liability, low profit companies – and certain provisions that, in effect, override certain provisionsof Article 9 of the Uniform Commercial Code to help the Committee determine whether itshould support Georgia taking similar action concerning low profit, limited liability companies.UCC Committee. Bobbi Acord Noland serves as Chair of the UCC Committee, and Art Gambillhas been appointed as the Vice Chair. The UCC Committee again sponsored its annual SecuredLending Seminar on February 7, 2013, and completed its work on the adoption in Georgia ofproposed amendments to Revised Article 9 of the Uniform commercial Code. Thoseamendments were approved by the State Bar and adopted by the Georgia legislature during its2013 session and will become effective on July 1, 2013.Legal Opinion Committee. David Cayce serves as Chair of this Committee and is overseeing aproject to review and evaluate various aspects of third party legal opinion practice in Georgia,and certain modifications of the Section’s published guidance. The Legal Opinion Committeesolicited input from the Section’s membership on various standards and practices amongpractitioners in this area by conducting a Section-wide survey last fall. David Cayce led a paneldiscussion regarding the survey results and reported on the Committee’s plans and progress withthis project at the Business Law Institute in October 2011 and the Committee is continuing itswork and formulating the next steps in this project.Securities Committee. Bob Hussle serves as Chair of the Securities Law Committee, and DavidEaton has recently been appointed as the Vice Chair of this Committee. The Securities LawCommittee planned to hold its biennial Advanced Securities Law CLE seminar in April 2013,but decided to postpone the program until later in the year in an effort to increase attendance.Ad Hoc Committee on Benefit Corporation. In addition to our standing committees, the Sectionhas formed a special ad hoc committee to study the creation of “benefit corporations” in Georgiaand to make a recommendation to the Section’s Executive Committee on next steps. Jack Hardinserves as the Chair of this ad hoc committee. The Committee’s other members are: CassBrewer, Bob Bryant, Jason Goode, Sonjui Kumar, Lee Lyman, Tom McNeill, Vincent Russo,David Thunhorst and Jeff Woodward. The ad hoc committee expects to make itsrecommendations to the Section’s Executive Committee in the fall of 2013.Respectfully submitted,Robert C. Hussle, ChairMay 14, 2013201