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History
Beginning
On October 5, 1962, the California Attorney General issued an opinion that accounts receivable financing was subject to the Personal Property Brokers Law and that such loans were exempt from usury. The opinion caused a great stir among lawyers representing commercial finance companies and factors. A series of informal get togethers by a handful of such lawyers to discuss the opinion led to the formation of The Financial Lawyers Conference.
Founding President
The meetings were initiated by Jay Levinson, who was then general counsel to Standard Financial. Jay was at that time only recently transplanted from New York City, where he had, coincidentally, founded the Association of Commercial Finance Attorneys, which is still in existence. Jay became our first and founding president. He was succeeded by Victor Mindlin who served as our president for two full terms -- the only person to do so.
Uniform Commercial Code
In 1963, California adopted the Uniform Commercial Code and we began a two-year study and lecture program which Vic administered. I think it is fair to say that most of us knew almost nothing about the UCC when it was enacted and we learned it by teaching one another. It was that program which really launched our Conference.
Those early beginnings epitomize the Conference; dedicated to teaching one another and our fellow lawyers. We have constantly strived to keep our programs on a high level, our checklist is outstanding, and our annual seminars are sold out every year. It's a great organization.
- From the 25th Anniversary Dinner Celebration Program
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