News and Information
September 18, 2017

Comments Sought on Proposed Changes to the Clients’ Protection Fund Sunset Provision

Comments due by October 15, 2017

The Virginia State Bar Clients’ Protection Fund Board is seeking comments on proposed changes to the sunset provision of Va. Code Section 54.1-3913.1, Clients’ Protection Fund.  Specifically, the proposal is to extend the sunset provision from July 1, 2020, to July 1, 2023.  The CPF Board intends to seek approval from Council and the Supreme Court of Virginia to seek to have the General Assembly of Virginia adopt this proposed change at its 2018 session.  The CPF Board also approved the recommendation that the CPF Board and VSB staff continue to enhance public awareness of the fund.  If adopted, the pertinent statutory changes would appear 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.

Any individual, business, or other entity may file or submit written comments in support of or in opposition to the proposed changes with Karen A. Gould, Executive Director of the Virginia State Bar, not later than October 15, 2017. Comments may be submitted via e-mail to publiccomment@vsb.org

Updated: Sep 18, 2017