News and Information
September 20, 2019

Comments Sought on Proposed Revisions to Clients’ Protection Fund Rules

The Virginia State Bar Clients’ Protection Fund Board is seeking public comment on proposed amendments to Clients’ Protection Fund rules.

The proposed changes:

  1. Allow petitions for alleged losses caused by attorneys who transfer their class of membership.
  2. Clarify petitioner’s duty to seek reimbursement from other sources besides the Clients’ Protection Fund.
  3. Move provisions in the rules pertaining to the appropriate measure/quantum of an award from the “Definition” sub-heading to the “Processing Petitions” subheading.
  4. Add requirement that alleged loss have a nexus to Virginia.
  5. Add new procedure if CPF Board’s investigation reveals a loss greater than amount requested by petitioner.
  6. Clarify procedure for requests for reconsideration.

The proposed changes may be inspected at the link below or at the office of the Virginia State Bar, 1111 East Main Street, Suite 700, Richmond, Virginia 23219-0026, between the hours of 9:00 a.m. and 4:30 p.m., Monday through Friday. Copies of the proposed changes can be obtained from the Virginia State Bar by contacting the Clients’ Protection Fund administrator at (804) 775-9426.

Any individual, business, or other entity may file or submit written comments in support of or in opposition to the proposed changes with Vivian R. Byrd, Clients’ Protection Fund administrator of the Virginia State Bar, not later than October 11, 2019. Comments may be submitted via email to cpf@vsb.org.

Inspect the proposed changes and read additional commentary here.

Updated: Sep 24, 2019