3-D explorers not well off under Louisiana law; unique co-ownership rights foil oil and gas companies seeking permits for seismic operations
Article Abstract:
The Louisiana Mineral Code grants strong protection to landowners, stating that oil and gas exploration cannot take place unless co-owners agree completely. Mineral leases are possible from fewer than all the owners of a tract, but a lessee cannot exercise rights without complete leasehold coverage. Different provisions governed the transfer of mineral exploration rights to a third party, and in the mid-1980s, articles 166 and 175 of the Mineral Code were amended to allow a supermajority of 80% of the ownership to approve exploration. In 1995, the state legislature amended the code's co ownership articles to include seismic permitting in this 80% rule.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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Prudent investor rule permits riskier portfolio: the new rule allows fiduciaries of trusts to make more speculative investments - but at a price
Article Abstract:
The prudent man rule that long governed investment mgmt by fiduciaries is giving way after more than 150 years to a prudent investor rule that emphasizes the total portfolio and maintaining purchasing power. These changes recognize the professionalization of investment and the academic research that has given rise to modern portfolio theory. The new laws favor rather than discourage professional portfolio management, though the adviser's liability remains unclear, and look to the process rather than the results.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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2d Circuit is now first wired for video-argument; multiple-monitor setup permits remote appellate argument yet captures feel of the courtroom
Article Abstract:
The US Court of Appeals for the 2d Circuit started a pilot project in 1996 permitting attorneys to do appellate argument by videoconferencing from certain sites within the circuit. Each VideoArgument Center offers state-of-the-art equipment of industry standard. The 2d Circuit has carefully developed simple video-argument procedures. An assistant is on hand at each center, but attorneys need not operate any equipment or follow any special procedures. Video argument is solely the attorney's choice.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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