MINNESOTA COURT RULES

PROFESSIONAL RULES

Rules of the MinnesotaClient Security Board

Rule 2.Rules Governing the Fund

2.01Establishment of the Fund

There is created a Minnesota Client Security Fund to aid those persons directly injured by the dishonest conduct of any lawyer during an attorney-client relationship or a fiduciary relationship arising out of an attorney-client relationship.

(Amended effective July 1, 1995; amended effective July 1, 2024.)

2.02Financing

The Fund shall be financed from:

a. Lawyer restitution and subrogation for claims paid;

b. Gifts and contributions;

c. Upon order of the Supreme Court, assessments of licensed lawyers.

2.03Ordering, Reinstatement and Cancellation of Assessments

The Supreme Court may order, reinstate or cancel the collection of assessments after review of the financial condition of the Fund certified by the Client Security Board in its annual report.

2.04Failure to Pay Assessment

Upon failure to pay the assessment when due, the lawyer's right to practice law in the state shall be suspended as provided in Rule 14 of the Rules of the Supreme Court on Lawyer Registration.

(Amended effective July 1, 1995; amended effective July 1, 2024.)

2.05Disbursements from the Fund

a. Upon written authorization of the Board, claims may be paid from the Fund.

b. The Board shall annually prepare an administrative budget to be approved by the Supreme Court, from which the Board may pay necessary expenses.

c. The fund shall be invested as provided by law.

(Amended effective July 1, 1995.)