Rule 10-103. Funding
State Bar Programs / Part X - Clients' Security Fund / Rule 10-103. Funding
(a) The State Bar of Georgia shall provide funding for the payment of claims and the costs of administering the Fund. In any year following a year in which the gross aggregate balance of the Fund falls below $1,000,000, the Bar shall assess and collect from each dues-paying member a pro rata share of the difference between the actual Fund balance and $1 million, provided that such assessments shall not exceed $25 in any single year. The aggregate amount paid to claimants from the Fund in any year shall not exceed $350,000.00. The Board of Governors may from time to time adjust the Fund's minimum aggregate balance, maximum annual payout, or maximum annual assessment to advance the purposes of the Fund or to preserve the fiscal integrity of the Fund.
(b) All monies or other assets of the Fund shall constitute a trust and shall be held in the name of the Fund, subject to the direction of the Board.
(c) No disbursements shall be made from the Fund except by the Board of Trustees.
GO TO Rule 10-102. Definitions
GO TO Rule 10-104. Board of Trustees
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