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Corrections
By Glenda K. Barber, RP

Summer 2003
Jul 1, 2003

Correction:

Regarding the article on Corporate Governance (“Corporate Governance From an In-House Paralegal Perspective”) that appeared in the Spring, 2003 edition of the Journal, it has been brought to the author's attention that there was an incorrect statement regarding a particular jurisdiction requiring that an entity holding real estate in that state be formed in that state.

Rather, it is often a requirement of many lenders that an entity be formed as a single purpose entity in a particular jurisdiction, and if a foreign entity, that it be qualified to transact business in that jurisdiction. There are many factors such as taxation/capitalization, liability, investment, and conduit financing requirements that may influence a decision to form a domestic entity in a particular jurisdiction to hold real property located there. The author regrets the error.

Glenda K. Barber, RP

Texas Paralegal Journal © Copyright 2003 by the Legal Assistants Division, State Bar of Texas.