Doesn't SQL Server have packages like Oracle?

>Hi everyone,
>
>We're having a discussion with my colleague about should we use 1 procedure for INSERT/UPDATE/DELETE and just pass action parameter or 3 separate procedures.
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>I'm saying 3 procedures are better and he is saying 1 procedure is better from the maintenance point of view.
>
>I would appreciate PROS/CONS for either of the opinions.
>
>BTW, where is Walter? Haven't seen him here for some time.
>
>Thanks in advance.