- Posts by Heather SternPartner
Heather is a Partner with PIB Law and focuses her practice on the representation of financial institutions in connection with financial services-related litigation matters.
Prior to joining PIB Law, Heather was a Partner at Kralik ...
On September 30, 2018, California Governor Jerry Brown signed California Senate Bill 826, amending the California Corporations Code to generally require publicly held corporations, whose principal executive offices are located in California, to have at least one woman on their board of directors by close of the 2019 calendar year. Specifically, the new law mandates, no later than the close of the 2019 calendar year, that “a publicly held domestic or foreign corporation whose principal executive offices, according to the corporation’s SEC 10-K form, are located in California shall have a minimum of one female director on its board.”
In Estate of Caldwell Jones, Jr. v. Live Well Financial, Inc., the Eleventh Circuit Court of Appeals opined on whether 12 U.S.C. § 1715z-20 could be construed to prevent foreclosure under a reverse mortgage contract that, by its terms, permits the lender to demand repayment immediately following a borrower’s death, even if his or her non-borrowing spouse continues to live in the mortgaged property. The Court ultimately determined that the statute could not be so broadly construed, because the statute addresses the types of mortgages that HUD may insure, but does not alter or affect the rights that a lender possesses under a reverse mortgage contract.