Lawyers are also required to certify their familiarity and compliance with Disciplinary Rule 9-102 in the biennial registration form which is filed with the Office of Court Administration. The Lawyers' Fund receives no revenues from the IOLA program, or from tax revenues. The Lawyers' Fund, established in 1982, is administered pro bono publico by a Board of Trustees appointed by the State Court of Appeals. The Fund is authorized to reimburse law clients for money or property that is misappropriated by a member of the New York bar in the practice of law. Awards are made after a lawyer's disbarment, and in situations where the lawyer is unable to make restitution.
Most clients receive full reimbursement for their losses.
To qualify for reimbursement, the loss must involve the misuse of law clients' money or property in the practice of law. The Trustees cannot settle fee disputes, nor compensate clients for a lawyer's malpractice or neglect. Typical losses reimbursed include the theft of estate and trust assets, down payments and the proceeds in real property transactions, debt collection proceeds, personal injury settlements, and money embezzled from clients in investment transactions. The Lawyers' Fund is located at 119 Washington Avenue, Albany, New York 12210.