Section 13 - Limitations on Amount of Reimbursements

As amended through July 2, 2024
Section 13 - Limitations on Amount of Reimbursements
13.01. No payment shall exceed the sum of $100,000 for loss sustained by any one claimant nor the aggregate sum of $400,000 with respect to losses caused by any one lawyer or former lawyer, unless otherwise determined by the Board and approved by the Court. No payment shall exceed $400,000 per transaction regardless of the number of persons aggrieved or the amount of loss in such transaction unless otherwise determined by the Board and approved by the Court. No payment shall exceed ten percent of the assets of the Fund at the time it is made, unless otherwise determined by the Board and approved by the Court. Where joint liability of wrongdoers exists, the Board has discretion to allocate payments as it deems appropriate within these limits. Payments may be in lump sum or installments as the Board may determine.
Amended by Order filed September 21, 2022 and effective 9/21/2022.