These summaries were prepared by McGuireWoods LLP lawyer Thomas E. Spahn. They are based on the letter opinions issued by the Virginia State Bar. Any editorial comments reflect Mr. Spahn's current personal views, and not the opinions of the Virginia State Bar, McGuireWoods or its clients. 
 
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16-Lawyer's Personal Interests

50-Lawyer-Owned Businesses

As long as the client consents, a law firm may obtain title insurance from a business in which the law firm or its members have a business interest. [This LEO was further explained in LEO 1564.] [Under Rule 1.8(a), a lawyer may not enter into a "business transaction" with a client unless the client is given an opportunity to seek independent advice, and there has been full disclosure and consent in writing.]

Copyright 2000, Thomas E. Spahn