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Adopted | amendments to the Clients’ Protection Fund Rules regarding claim limits on payments from the fund. Approved by VSB Council 10/24/14.
On October 24, 2014, the VSB Council approved amending the Clients' Protection Fund Rules to increase the maximum payment to any one petitioner to $75,000 for losses incurred on or after July 1, 2015. Maximum payments for losses incurred before that date will remain $50,000. The total amount of losses reimbursable for any one lawyer or association of lawyers will increase from 10 percent of the net worth of the fund to 15 percent.
Updated: January 5, 2017