Pennsylvania Code › Title 204 - JUDICIAL SYSTEM GENERAL PROVISIONS › Part V - PROFESSIONAL ETHICS AND CONDUCT › Subpart B - DISCIPLINARY ENFORCEMENT › Chapter 83 - PENNSYLVANIA RULES OF DISCIPLINARY ENFORCEMENT › Subchapter E - PENNSYLVANIA LAWYERS FUND FOR CLIENT SECURITY › GENERAL PROVISIONS › Rule 503 - Pennsylvania Lawyers Fund for Client Security Board

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
General Rule
. The Supreme Court shall appoint a board to be
						known as the "Pennsylvania Lawyers Fund for Client Security Board of Trustees"
						(the "Board") which shall consist of five members of the bar of this
						Commonwealth and two non-lawyer public members. One of the members shall be
						designated by the Court as Chair and another as Vice-Chair. A majority of the
						members of the Board shall designate a member of the Board to act as
						Treasurer.
(b)
Terms;
						manner of action.
The regular terms of members of the Board shall be
						for three years, and no member shall serve for more than two consecutive
						three-year terms. The terms of one-third of the members of the Board, as nearly
						as may be, shall expire in each year. The terms of members shall commence on
						April 1. The Board shall act with the concurrence of not less than a majority
						of the members in office. A majority of the members in office shall constitute
						a quorum.
(c)
Vacancies.
Vacancies shall be filled by appointment by the
						Supreme Court for any unexpired terms.
(d)
Powers.
The Board shall
						have the power and duty:
(1) To appoint
						hearing committees. Each committee shall consist of at least three members who
						are members of the bar of the Supreme Court or who are current members of the
						Board.
(2) To investigate
						applications by Claimants for disbursements from the Fund.
(3) To authorize disbursements from the Fund
						and to fix the amount thereof.
(4)
						To determine in conjunction with the meeting of the Lawyer Assessment
						Committee, and to report to the Supreme Court, whether the Fund is of
						sufficient amount to pay adjudicated claims and other anticipated claims.
(5) To adopt rules of procedure
						not inconsistent with these rules. Such rules may provide for the delegation to
						the Chair or the Vice Chair of the power to act for the Board on administrative
						and procedural matters.
(6) To
						exercise the powers and perform the duties vested in and imposed upon the Board
						by the Supreme Court.
(7) With
						prior approval of the Supreme Court to give financial assistance to
						Pennsylvania non-profit corporations whose purpose it is to assist alcohol or
						drug impaired Pennsylvania lawyers and judges to regain their health and to
						restore them to professional competence, or to such other Supreme Court
						Committees or Boards as the Court may direct.
(8) To prudently invest, per the direction of
						the Investment Advisory Board or the Court, such portions of the funds as may
						not be needed currently to pay losses, and to maintain sufficient reserves as
						appropriate.
(9) To prosecute
						claims for restitution to which the Fund is entitled.