Opinion 98-01


February 5, 1998


Dear:


         This is in response to your inquiry (98-01) in which you ask whether you may remain a general partner in a stock investment club which “meets monthly and invests in the stocks of publicly traded corporations.”


         The Committee addressed the same question in Opinion 95-57 (Vol. XIII), a copy of which is enclosed. As stated therein, ‘‘Because the club is a partnership for profit and the judge actively participates in making investment decisions, the Rule [now 22 NYCRR 100.4(D)(3)] bars the judge from participating in it.” Accordingly, it is the opinion of the Committee that you may not remain a general partner in the stock investment club.

 

Very truly yours,

 

Thomas P. Flaherty

Justice of the Supreme Court

Co-Chair

 

George D. Marlow

Dutchess County Court Judge

Co-Chair