X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Client Security Funds State by State Fiscal year 2003
State Number of active lawyers Per lawyer income from fees Per lawyer income other sources Fund total income Fund total payout Payout per lawyer Maximum victim payout per claim Maximum payout per accused lawyer Ending fund balance
Alabama 9,697 $25 $5.82 $107,745 $77,921 $8.04 $10,000 $20,000 $1,533,258
Alaska 1 2,257 $10 $16.83 $67,635 $800 $0.35 $50,000 $200,000 $1,167,403
Arizona 11,376 $25 $1.99 $343,997 $31,346 $2.76 $50,000 $100,000 $1,341,645
Arkansas 5,144 $17 $0 $117,268 $104,020 $20.22 $40,000 None $299,049
California 134,468 $35 $5.49 $4,717,429 $5,859,620 $43.58 $50,000 None $8,172,695
Colorado 17,038 $18 $1.89 $381,500 $71,300 $4.18 $50,000 $100,000 $1,589,934
Connecticut 17,839 $75 $2.94 $2,145,439 $498,844 $27.96 $375,000 None $5,713,655
Delaware 2,118 $75 $72.51 $345,556 $590,524 $27.87 None 10% of fund $1,577,781
District of Columbia 2 41,055 $0.77 $0.61 $56,522 $12,200 $0.30 $75,000 None $705,573
Florida 52,967 $20 $0 $1,415,800 $352,702 $6.69 $50,000 None $1,061,371
Georgia 3 23,698 $6.52 $1.81 $197,374 $177,607 $7.49 $25,000 10% of fund $2,345,334
Hawaii 3,772 $37.50 $2.44 $176,107 $119,587 $31.70 $50,000 $150,000 $873,769
Idaho 2,934 $20 $0.16 $57,274 $99,719 $33.99 $15,000 None $50,099
Illinois 4 54,155 $9.23 $0.06 $502,923 $499,810 $9.23 $25,000 $250,000 N/A
Indiana 12,581 $2 $0.20 $27,696 $16,510 $1.31 $15,000 $50,000 $537,288
Iowa 5 6,611 $9.22 $3.75 $86,380 $390,004 $58.99 $50,000 $150,000 $829,518
Kansas 7,302 $0 $5.44 $39,688 $177,173 $24.26 $75,000 $200,000 $1,680,399
Kentucky 10,722 $0 $11.39 $122,160 $22,300 $2.08 $65,000 $100,000 $739,607
Louisiana 16,357 $0 $38.50 $629,788 $54,386 $3.32 $25,000 None $581,421
Maine 3,249 $20 $2.09 $119,141 $60,140 $18.51 $25,000 $50,000 $515,737
Maryland 20,855 $20 $17.57 $991,114 $826,405 $39.66 10% of fund None $4,407,020
Massachusetts 46,622 $45.30 $5.85 $2,672,541 $1,054,477 $22.62 None None $3,286,506
Michigan 30,795 $0 $0.86 $26,494 $349,664 $11.35 $25,000 $100,000 $739,866
Minnesota 19,850 $17 $4.27 $407,709 $142,272 $7.17 $150,000 None $2,803,258
Mississippi 6,152 $0 $0.03 $195 $0 $0 $10,000 $30,000 $90,579
Missouri 20,252 $3.70 $0.15 $77,982 $174,213 $8.60 $20,000 None $120,511
Montana 2,656 $20 $20.30 $114,816 $9,200 $3.46 None None $690,696
Nebraska 4,828 $3 $0.92 $24,440 $6,947 $1.44 None $100,000 $528,351
Nevada 4,587 $15 $4.04 $100,512 $94,068 $20.51 $15,000 $25,000 $7,000
New Hampshire 3,100 $42.50 $4.77 $228,875 $0 $0 $150,000 $150,000 $1,100,640
New Jersey 36,860 $50 $25.73 $3,909,436 $2,638,349 $71.58 $250,000 $1,000,000 $13,325,200
New Mexico 4,803 $0 $0 $0 $0 $0 $2,500 None $0
New York 137,108 $30 $10.10 $5,500,000 $5,700,000 $41.57 $300,000 None $5,400,000
North Carolina 16,534 $20 $4.44 $453,446 $198,507 $12.00 $100,000 None $1,266,598
North Dakota 6 1,297 $20 $0.83 $30,482 $22,400 $17.27 Full amount None $180,529
Ohio 33,974 $38.94 $0.77 $1,031,061 $1,006,729 $29.63 $75,000 None $416,467
Oklahoma 10,633 $9.66 $8.04 $185,517 $31,461 $2.96 $100,000 $100,000 $650,101
Oregon 10,350 $5 $1.76 $79,800 $12,600 $1.22 $50,000 None $896,000
Pennsylvania 40,562 $45 $9.96 $2,131,267 $2,539,984 $62.62 $75,000 None $9,736,930
Rhode Island 5,135 $25 $5.12 $139,453 $2,700 $0.53 $35,000 $250,000 $1,271,932
South Carolina 7,571 $20 $21.44 $342,061 $229,266 $30.28 $20,000 $100,000 $718,111
South Dakota 7 1,655 $0 $1.87 $3,100 $50,000 $30.21 $20,000 $50,000 $103,000
Tennessee 13,513 $10 $0.22 $182,410 $30,588 $2.26 $25,000 $125,000 $1,600,000
Texas 64,593 $3.87 $3.45 $472,696 $250,939 $3.88 $30,000 None $3,181,393
Utah 5,368 $10 $1.00 $66,782 $58,595 $10.92 $20,000 $50,000 $155,660
Vermont 2,223 $10 $3.09 $20,500 $0 $0 $15,000 $30,000 $227,856
Virginia 19,795 $0 $6.57 $129,955 $220,909 $11.16 $50,000 None $2,787,251
Washington 20,770 $13 $1.79 $357,274 $125,913 $6.06 $50,000 None $620,361
West Virginia 4,175 $0 $0.72 $3,000 $15,000 $3.59 $10,000 $20,000 $160,000
Wisconsin 13,813 $20 $5.27 $422,014 $118,050 $8.55 $75,000 None $458,873
Wyoming 1,334 $0 $0.65 $863 $1,876 $1.41 $10,000 None $76,886
1�Alaska’s maximum victim payout per claim is $50,000 or 10% of the fund, whichever is greater at the time. Its maximum payout per accused lawyer is $200,000, but the total can’t exceed 50% of the fund. 2�The District of Columbia keeps a fund balance of $750,000, so the money taken out of bar member dues differs every year depending on the previous year’s ending fund balance. 3�In Georgia, attorneys pay $20 assessment fees to the fund only for their first five years with the bar, to a total of $100 per attorney. 4�Illinois’ ending fund balance is not applicable, as the money comes from a larger pool (of state bar funds), and money is allotted as needed. 5�Iowa lawyers pay assessment fees of $25 or $50 until $200 is collected. 6�In North Dakota in 2003, the fund could reimburse victims for the amount proved, minus a $5,000 deductible, under provisions of an indemnity bond. The bond wasn’t renewed in 2004 and payouts per claim are now limited to $5,000 and payout per lawyer to $20,000. 7�South Dakota has a $25 assessment fee if the fund drops below $80,000, but so far it hasn’t been necessary.
Source: Lindsay Fortado, NLJ intern; American Bar Association.
(National Law Journal, September 2004)

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.