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2007 SESSION

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CHAPTER 807 An Act to amend and reenact § 54.1-3913.1 of the Code of Virginia, relating to Clients' Protection Fund. [S 1426] Approved March 23, 2007

 

Be it enacted by the General Assembly of Virginia:

1.  That § 54.1-3913.1 of the Code of Virginia is amended and reenacted as follows:

§ 54.1-3913.1. Clients' Protection Fund.

The Clients' Protection Fund is continued as a special fund of the Virginia State Bar. The Fund shall consist of moneys transferred to it from the State Bar Fund and the Virginia State Bar's Administration and Finance Account. Disbursements to the Clients' Protection Fund from the State Bar Fund shall be made only upon approval of the disbursements through the annual budgetary process of the Virginia State Bar. Notwithstanding the provisions of § 54.1-3912, the Supreme Court may adopt rules assessing members of the Virginia State Bar an annual fee of up to $25 to be deposited in the State Bar Fund and transferred to the Clients' Protection Fund.

2. That the provisions of this act shall expire on July 1, 2015.