THE AlabamaJANUARY 2016Lawyer | VOLUME 77, NUMBER 1 L Small Firms Poised to Thrive in Today’s Legal Market Page 20 L Minority Oppression in Limited Liability Companies: The Birth Of a New Claim or a Hole in the Law? Page 36 Good ResearchResearch LeadsLeaeads ds to AIM! AIMIM is youryour bestb choicehoice forfor legallegal malpracticemalprmalpracticei insurance.insurance. CallCalallll today.todaayyy.. Ourur telephonestelephones aree answeredanswnswwerered personally.personalonalllllyyy.. DedicatedDedicated to insuringinsuring practicingpr icing attorattorneys.neeyys. 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THE JANUARYAlabama 2016 | VOLUME Lawyer 77, NUMBER 1 COLUMNS President’s Page On The Cover 8 The Court Square Fountain located on Dexter Avenue in Montgomery is illumi- Executive Director’s Report nated in the national colors of France in a 10 show of solidarity after the terrorist at- tacks in Paris on November 13, 2015. The App ellate Corner Shot taken with Canon 7D Mark II, ISO 52 100, F/20, 35mm, 15 second exposure –Photo by Dolan L. Trout, ASB director Memorials of information technology 59 Important Notices FEATURE ARTICLES 60 Note from the Editor Legislative Wrap-Up Honk if You Like the New Cover! 64 12 Opinions of the General Counsel The Best “Buy-Sell” for Your Firm 68 By Daniel E. Drennen, II 14 YLS Update 72 Small Firms Poised to Thrive in Today’s Legal Market By Prof. Pamela Bucy Pierson and Emily Kornegay Price About Members, 20 Among Firms 74 Eating an Elephant Disciplinary Notices By Jason S. Isbell and Jeremy S. Walker 76 30 Minority Oppression in Limited Liability Companies: facebook.com/AlabamaStateBar The Birth of a New Claim or a Hole in the Law? @AlabamaStateBar By Douglas B. Hargett and G. Bartley Loftin, III 36 @AlabamaStateBar Fall 2015 Admittees youtube.com/TheAlabamaStateBar Alabama Lawyer 45 flickr.com/AlabamaStateBar T H E www.alabar.org 5 ALABAMA STATE BAR Gregory H. Hawley, Birmingham .......................Chair and Editor ADVERTISERS [email protected] 415 Dexter Avenue Linda G. Flippo, Birmingham ....Vice Chair and Associate Editor Montgomery, AL 36104 [email protected] (334) 269-1515 • (800) 354-6154 Wilson F. Green, Tuscaloosa ......Vice Chair and Associate Editor ABA TechShow 2016..............................4 FAX (334) 261-6310 [email protected] Margaret L. Murphy, Montgomery..................Staff Liaison and www.alabar.org Director of Publications ALABAMA STATE BAR STAFF [email protected] AlaServe, LLC ......................................57 Executive Director ....................................Keith B. Norman Director of Personnel and Operations ..............Diane Locke Robert A. Huffaker, Montgomery ....Chair and Editor, 1983-2010 Attorneys Insurance Mutual ASB Foundation Assistant/ Executive Assistant...................................Ann Rittenour of the South .............................................2 Assistant Executive Director...............Edward M. Patterson BOard Of EdiTOrs Director of External Relations and Melanie M. Atha, Birmingham • Marc J. Ayers, Birmingham • David A. Bag- Projects/Annual Meeting........................Christina Butler well, Fairhope • Jennifer M. Bedsole, Birmingham • H. Lanier Brown, II, Cain & Associates ...................................9 Birmingham • Henry L. (Max) Cassady, Jr., Fairhope • W. Lloyd Copeland, Administrative Assistants for External Relations Mobile • Cason Crosby Cheely, Daphne • Kira Y. Fonteneau, Birmingham • and Projects ..............................Mary Frances Garner Sara Anne Ford, Birmingham • Amy M. Hampton, Alexander City • Walter E. Marcia N. Daniel McGowan, Tuskegee • Rebecca Keith McKinney, Huntsville • Jeffrey R. The Triangle by Teresa Cannady...........53 McLaughlin, Guntersville • James R. Moncus, III, Birmingham • Joi T. Mon- Director of Digital Communications..........J. Eric Anderson tiel, Montgomery • Anil A. Mujumdar, Birmingham • Sherrie L. Phillips, Director of Information Technology........Dolan L. Trout Montgomery • Katherine T. Powell, Birmingham • Allison O. Skinner, Birm- Information Systems Manager..............O. Hunter Harris ingham • Marc A. Starrett, Montgomery • M. Chad Tindol, Tuscaloosa • Davis Direct...........................................78 Jason B. Tompkins, Birmingham • David G. Wirtes, Jr., Mobile Digital Communications Content Manager ......Kelley Lee Director of Publications..................Margaret L. Murphy OffiCErs J. Forrester DeBuys, III...........................9 Director of Regulatory Programs ....................Angela Parks Lee H. Copeland, Montgomery.....................................................President J. Cole Portis, Montgomery..................................................President-elect Membership Richard J.R. Raleigh, Jr., Huntsville ...................Immediate Past President Administrative Assistant................Cathy Sue McCurry R. Cooper Shattuck, Tuscaloosa ...........................................Vice President The Finklea Group ................................13 Regulatory Programs Keith B. Norman, Montgomery ....................................................Secretary Administrative Assistant ........................Doris McDaniel S. Hughston Nichols, Birmingham .......Young Lawyers’ Section President Director of Admissions..................................Justin C. Aday BOard Of Bar COmmissiOnErs Freedom Court Reporting..........................79 Admissions Administrative Assistants .......Crystal Jones 1st Circuit, Halron W. Turner, Chatom • 2nd Circuit, J. Levi Nichols, Lu- Sonia Douglas verne • 3rd Circuit, Christina D. Crow, Union Springs • 4th Circuit, Jana Russell Garner, Selma • 5th Circuit, Charles G. Reynolds, Lanett • 6th Cir- Director of Finance..........................................Merinda Hall cuit, Place No. 1, Terri Olive Tompkins, Tuscaloosa; Place No. 2, Robert Judicial Arbiter Group ...............................63 Senior Financial Assistant...........................Gale Skinner Hays Webb, Tuscaloosa • 7th Circuit, William H. Broome, Anniston • 8th Circuit, Emily L. Baggett, Decatur • 9th Circuit, Dana Jo Grimes, Ft. Financial Assistant .........................................Kristi Neal Payne • 10th Circuit, Place No. 1, Leslie R. Barineau, Birmingham; Place LawPay.........................................................7 Graphic Arts Director.................................Roderick Palmer No. 2, John A. Smyth, Birmingham; Place No. 3, Barry A. Ragsdale, Receptionist ............................................Stephanie Oglesby Birmingham; Place No. 4, Robert G. Methvin, Birmingham; Place No. 5, Augusta S. Dowd, Birmingham; Place No. 6, Teresa G. Minor, Birming- Director of Service Programs .................Laura A. Calloway ham; Place No. 7, Allison O. Skinner, Birmingham; Place No. 8, Brannon SP Administrative Assistant ......................Kristi Skipper J. Buck, Birmingham; Place No. 9, Erik Stephen Heninger, Birmingham • The Locker Room..................................11 Bessemer Cutoff, L. Kenneth Moore, Bessemer • 11th Circuit, Ralph E. Lawyer Referral Service Representative........John Dunn Holt, Florence • 12th Circuit, Thad Yancey, Troy • 13th Circuit, Place No. Volunteer Lawyers Program Director ................Linda Lund 1, C. Zackery Moore, Mobile; Place No. 2, Frederick G. Helmsing, Mo- bile; Place No. 3, Clay A. Lanham, Mobile; Place No. 4, Juan C. Ortega, National Academy of VLP Assistant .................................Katherine L. Church Mobile; Place No. 5, James Rebarchak, Mobile • 14th Circuit, James R. Intake Specialists ...................................Deborah Harper Beaird, Jasper • 15th Circuit, Place No. 1, George R. Parker, Montgomery; Distinguished Neutrals ............................3 Carrie Black-Phillips Place No. 2, Les Pittman, Montgomery; Place No. 3, Flynn Mozingo, Montgomery; Place No. 4, C. Gibson Vance, Montgomery; Place No. 5, Alabama Lawyer Assistance Program Jeffery C. Duffey, Montgomery; Place No. 6, David Martin, Montgomery th th Director ..................Robert B. Thornhill (334-224-6920) • 16 Circuit, Donald R. Rhea, Gadsden • 17 Circuit, Taylor Thomas OnBoard Search & Staffing ..................75 Perry, Demopolis • 18th Circuit, Place No. 1, William Randall May, Birm- ALAP Case Manager.............................Shannon Knight ingham; Place No. 2, Mark S. Boardman, Chelsea; Place No. 3, Anne ALAP Administrative Assistant...............Sandra Dossett Malatia Glass, Birmingham • 19th Circuit, Robert L. Bowers, Clanton • 20th Circuit, R. Cliff Mendheim, Dothan • 21st Circuit, James Eric Coale, Professional Software Corporation .........9 Alabama Law Foundation, Inc. Director .........Tracy Daniel Brewton • 22nd Circuit, Manish H. Patel, Andalusia • 23rd Circuit, Place ALF Administrative Assistants .............Sharon McGuire No. 1, Tazewell T. Shepard, Huntsville; Place No. 2, John A. Brinkley,