The Pennsylvania Lawyers Fund for Client Security was established by the Supreme Court of Pennsylvania in 1982 to reimburse clients who have suffered a loss as a result of a misappropriation of funds by their Pennsylvania attorney.
The Fund receives all of its financial resources from the members of the Pennsylvania Bar through an annual fee. The Fund currently receives $45 of the $200 annual assessment which is paid by each Pennsylvania lawyer in order to keep their license to practice law active. $125 is remitted to the Disciplinary Board and $30 is remitted to the IOLTA Board. By Order dated February 15, 2017, the Fund's allocation of the annual fee was increased to $75, with the Disciplinary Board to receive $120. The IOLTA Board will continue to receive $30.
The Fund is comprised of a seven member volunteer Board. The Board is comprised of five lawyer members and two non-lawyer members, all of whom are appointed by the Supreme Court of Pennsylvania. Each Board member is appointed for a three year term and may serve a maximum of two consecutive terms.
The Fund is staffed by an Executive Director and an Administrative Assistant.
The Fund operates under the Pennsylvania Rules of Disciplinary Enforcement 501, et seq. The Board has adopted Rules and Regulations in accordance with the Rules of Disciplinary Enforcement.
More information regarding the operations of the Fund may be obtained by reviewing the Fund's most recent Annual Report.