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Home > Rule Changes > changes to the Clients’ Protection Fund sunset provision.

Adopted | changes to the Clients’ Protection Fund sunset provision. Approved by Council October 27, 2017.

On October 27, 2017, Council unanimously approved allowing the VSB, in the 2018 legislative session, to seek an extension of the sunset provision of Va. Code Section 54.1-3931 from July 1, 2020, to July 1, 2023. The Supreme Court of Virginia must also authorize the VSB to seek extension of the sunset provision. The proposed statutory changes are as follows:
 
§ 54.1-3913.1. (Effective until July 1, 20203) Clients' Protection Fund.
 
The Clients' Protection Fund is continued as a special fund of the Virginia State Bar. The Fund shall consist of moneys transferred to it from the State Bar Fund and the Virginia State Bar's Administration and Finance Account. Disbursements to the Clients' Protection Fund from the State Bar Fund shall be made only upon approval of the disbursements through the annual budgetary process of the Virginia State Bar. Notwithstanding the provisions of § 54.1-3912, the Supreme Court may adopt rules assessing members of the Virginia State Bar an annual fee of up to $25 to be deposited in the State Bar Fund and transferred to the Clients' Protection Fund.
 
§ 54.1-3913.1. (Effective July 1, 20203) Clients' Protection Fund.
 
The Clients' Protection Fund is continued as a special fund of the Virginia State Bar. The Fund shall consist of moneys transferred to it from the State Bar Fund and the Virginia State Bar's Administration and Finance Account. Disbursements to the Clients' Protection Fund from the State Bar Fund shall be made only upon approval of the disbursements through the annual budgetary process of the Virginia State Bar.
 

Updated: October 31, 2017