August 24, 2023
Clients’ Protection Fund Pays $272,996 in Last Fiscal Year
The Virginia State Bar’s Clients’ Protection Fund (CPF) paid $272,996 for 32 claims during fiscal year 2023.
The Clients’ Protection Fund was created by the Supreme Court of Virginia in 1976 to reimburse persons who suffer a quantifiable financial loss because of dishonest conduct by a Virginia lawyer whose law license has been suspended or revoked for disciplinary reasons, or who has died and did not properly maintain client funds.
The fund is not taxpayer-funded but is supported by Virginia lawyers who pay an annual fee of $5. Payments from the CPF are discretionary and are not a matter of right.
More information on the fund may be found here.
Please contact Vivian R. Byrd, Administrator to Clients’ Protection Fund, at (804) 775-0572 or e-mail [email protected] with questions.