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George Flint

St. Mary's University, School of Law, Faculty Member

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After earning multiple degrees in physics, Professor Flint pursued a law degree from the University of Texas at Austin. Before joining St. Mary’s University School of Law in 1987, he practiced corporate law and federal securities for 12 years. He became a shareholder at Naman, Howell, Smith and Lee, P.C., in Waco, Texas, from 1982 to 1984 before becoming a senior associate for Lapin, Totz and Mayer in Houston, Texas, from 1984 to 1986.

As securities counsel, he represented both private and public companies selling securities, including several initial public offerings, one a high yield bond offering. He also handled the periodic SEC filings for several public companies.

As an Employee Retirement Income Security Act (ERISA) counsel, his practice included designing and operating the firm’s ERISA system, administering plan adoption, submitting annual reporting and determining the plan’s termination and amendments. He administered about 200 plans for clients. He also served as in house counsel on ERISA matters for Exxon in Houston.

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Papers by George Flint

Secured Transactions History: the Northern Struggle to Defeat the Judgment Lien in the

SECURED TRANSACTIONS HISTORY: THE IMPACT OF TEXTILE MACHINERY ON THE CHATTEL MORTGAGE ACTS OF THE NORTHEAST

Secured Transactions History: The Impact of Southern Staple Agriculture on The First Chattel Mortgage Acts in The Anglo-American World

SECURED TRANSACTIONS HISTORY: THE IMPACT OF ENGLISH SMUGGLING ON THE CHATTEL MORTGAGE ACTS IN THE SPANISH BORDERLANDS

SEC and FRB Treatment of Options: An Experiment in Market Regulation

ERISA: THE ARBITRARY AND CAPRICIOUS RULE UNDER SIEGE

The recent increase in litigation over the proper rule for judicial review of discretionary plan ... more The recent increase in litigation over the proper rule for judicial review of discretionary plan administrator decisions made for employee benefit plans indicates that few employers have realized the importance of the problem. Whether a court reviews an administrator's decision under the arbitrary and capricious rule or engages in de novo review is the heart of the success or failure of the Employee Retirement Income Security Act of 1974 (ERISA).' The method of review chosen by the courts will determine the fairness by which a plan administrator administers an employee benefit plan. Unless the courts adopt the analysis set forth in this Article, ERISA, as interpreted by the courts, will become an employer-favoring statute rather than the statute Congress designed to protect the interests of employees.

ERISA: Nonwaivability of Preemption

ERISA: JURY TRIAL MANDATED FOR BENEFIT CLAIMS ACTIONS

ERISA: Fumbling the Limitations Period

ERISA: ANTI-ALIENATION SUPERIORITY IN BANKRUPTCY

ERISA: A CO-FIDUCIARY HAS NO RIGHT TO CONTRIBUTION AND INDEMNITY

The plan administrators of a profit-sharing plan, governed by the Employee Retirement Income Secu... more The plan administrators of a profit-sharing plan, governed by the Employee Retirement Income Security Act of 1974 (ERISA),' decided to invest a portion of the plan assets in a residential real estate project. 2 The plan administrators sought and used the advice of a registered investment advisor in making the investment. For a $100,000 investment the plan received two promissory notes of a limited partnership, the entity owning the residential real estate. As part of the transaction the executed escrow instructions with the escrow holder and the trustee of the profit-sharing plan directed the escrow agent to deliver a recorded deed of trust of the limited partnership to the trustee securing the promissory notes. Neither the escrow agent nor the trustee recorded the deed of trust. Consequently, when the limited partnership filed for reorganization under the bankruptcy laws a few years later, the plan's investment became worthless since the deeds of trust lacked recordation. After an investigation, the Department of Labor determined that the fiduciaries of the plan had violated their duties under ERISA to the plan and demanded that the fiduciaries restore to the plan the money lost, the original investment plus imputed earnings thereon, as a result of the breaches of fiduciary duties. The plan administrators settled with the Department of Labor, and deposited the total money lost into the plan. The plan administrators then brought suit against the other fiduciaries, 3 namely the investment advisor, the escrow agent, and the trustee for contribution and indemnity. The other fiduciaries moved for dismissal of the lawsuit. They had no contractual obligation to provide contribution or indemnity.

SECURITIES REGULATION

SECURITIES REGULATION

SECURITIES REGULATION

Securities regulation deals primarily with the laws preventing and providing remedies for fraud i... more Securities regulation deals primarily with the laws preventing and providing remedies for fraud in the sale of stocks and bonds. A number of new developments have been made in federal and Texas state securities law, including, but not limited to: lawsuits brought in the Enron Corporation litigation under both the Texas Securities Act and the Texas Stock Fraud Act; changes made by the State Securities Board concerning registration guidelines for real estate programs; and court decisions regarding recovery of damages for violations of the Williams Act, and recovery by a whistleblower against the issuer for terminating the whistleblower’s employment. Therefore, an update regarding these securities law developments may be of use to the Texasbased securities practitioner.

SECURITIES REGULATION

SECURITIES REGULATION

SECURITIES REGULATION

SECURITIES REGULATION

SECURITIES REGULATION

SECURED TRANSACTION HISTORY: PROTECTING HOLMES' NOTES THROUGH THE CONDITIONAL SALES ACTS

Secured Transactions History: the Northern Struggle to Defeat the Judgment Lien in the

SECURED TRANSACTIONS HISTORY: THE IMPACT OF TEXTILE MACHINERY ON THE CHATTEL MORTGAGE ACTS OF THE NORTHEAST

Secured Transactions History: The Impact of Southern Staple Agriculture on The First Chattel Mortgage Acts in The Anglo-American World

SECURED TRANSACTIONS HISTORY: THE IMPACT OF ENGLISH SMUGGLING ON THE CHATTEL MORTGAGE ACTS IN THE SPANISH BORDERLANDS

SEC and FRB Treatment of Options: An Experiment in Market Regulation

ERISA: THE ARBITRARY AND CAPRICIOUS RULE UNDER SIEGE

The recent increase in litigation over the proper rule for judicial review of discretionary plan ... more The recent increase in litigation over the proper rule for judicial review of discretionary plan administrator decisions made for employee benefit plans indicates that few employers have realized the importance of the problem. Whether a court reviews an administrator's decision under the arbitrary and capricious rule or engages in de novo review is the heart of the success or failure of the Employee Retirement Income Security Act of 1974 (ERISA).' The method of review chosen by the courts will determine the fairness by which a plan administrator administers an employee benefit plan. Unless the courts adopt the analysis set forth in this Article, ERISA, as interpreted by the courts, will become an employer-favoring statute rather than the statute Congress designed to protect the interests of employees.

ERISA: Nonwaivability of Preemption

ERISA: JURY TRIAL MANDATED FOR BENEFIT CLAIMS ACTIONS

ERISA: Fumbling the Limitations Period

ERISA: ANTI-ALIENATION SUPERIORITY IN BANKRUPTCY

ERISA: A CO-FIDUCIARY HAS NO RIGHT TO CONTRIBUTION AND INDEMNITY

The plan administrators of a profit-sharing plan, governed by the Employee Retirement Income Secu... more The plan administrators of a profit-sharing plan, governed by the Employee Retirement Income Security Act of 1974 (ERISA),' decided to invest a portion of the plan assets in a residential real estate project. 2 The plan administrators sought and used the advice of a registered investment advisor in making the investment. For a $100,000 investment the plan received two promissory notes of a limited partnership, the entity owning the residential real estate. As part of the transaction the executed escrow instructions with the escrow holder and the trustee of the profit-sharing plan directed the escrow agent to deliver a recorded deed of trust of the limited partnership to the trustee securing the promissory notes. Neither the escrow agent nor the trustee recorded the deed of trust. Consequently, when the limited partnership filed for reorganization under the bankruptcy laws a few years later, the plan's investment became worthless since the deeds of trust lacked recordation. After an investigation, the Department of Labor determined that the fiduciaries of the plan had violated their duties under ERISA to the plan and demanded that the fiduciaries restore to the plan the money lost, the original investment plus imputed earnings thereon, as a result of the breaches of fiduciary duties. The plan administrators settled with the Department of Labor, and deposited the total money lost into the plan. The plan administrators then brought suit against the other fiduciaries, 3 namely the investment advisor, the escrow agent, and the trustee for contribution and indemnity. The other fiduciaries moved for dismissal of the lawsuit. They had no contractual obligation to provide contribution or indemnity.

SECURITIES REGULATION

SECURITIES REGULATION

SECURITIES REGULATION

Securities regulation deals primarily with the laws preventing and providing remedies for fraud i... more Securities regulation deals primarily with the laws preventing and providing remedies for fraud in the sale of stocks and bonds. A number of new developments have been made in federal and Texas state securities law, including, but not limited to: lawsuits brought in the Enron Corporation litigation under both the Texas Securities Act and the Texas Stock Fraud Act; changes made by the State Securities Board concerning registration guidelines for real estate programs; and court decisions regarding recovery of damages for violations of the Williams Act, and recovery by a whistleblower against the issuer for terminating the whistleblower’s employment. Therefore, an update regarding these securities law developments may be of use to the Texasbased securities practitioner.

SECURITIES REGULATION

SECURITIES REGULATION

SECURITIES REGULATION

SECURITIES REGULATION

SECURITIES REGULATION

SECURED TRANSACTION HISTORY: PROTECTING HOLMES' NOTES THROUGH THE CONDITIONAL SALES ACTS