Opinion 359
Question Presented
Is there a violation of the Canons of Ethics for a law firm to represent a savings and loan association and also a title insurance company issuing title binders and title insurance policies to the savings and loan association where one of the members of the law firm is President of the savings and loan association; another of the members of the law firm is closing attorney for the savings and loan association and the law firm charges the savings and loan association for drafting notes, deeds of trust, and other customer loan papers which charges are passed on to the borrower by the savings and loan association as loan costs, and the savings and loan association and title insurance company are fully advised of the representation by the law firm of both clients and both clients agree thereto?
Tex. Comm. On Professional Ethics, Op. 359, V. 35 Tex. B.J. 106 (1972)
Canon 6
There is no violation of the Canons of Ethics of the State Bar of Texas under the facts above stated since full disclosure is made and the clients have agreed thereto. See Texas Canon No. 6.
A law firm may represent a savings and loan association and also a title insurance company which issues title insurance to the savings and loan association when full disclosure is made to both the savings and loan association and the title insurance company.
Bluebook Citation
Tex. Comm. On Professional Ethics, Op. 359 (1971)