The Supreme Court of Ohio annual report - Supreme Court - State of ...
The Supreme Court of Ohio annual report - Supreme Court - State of ...
The Supreme Court of Ohio annual report - Supreme Court - State of ...
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Board <strong>of</strong><br />
Commissioners <strong>of</strong> the<br />
Clients’ Security Fund<br />
Luis M. Alcalde<br />
Hon. Patricia Blackmon<br />
Kenneth R. Donchatz<br />
Edward G. Hack<br />
William S. Newcomb Jr.,<br />
chair<br />
Jerome Phillips<br />
Clifton L. Spinner<br />
Clients’ Security Fund<br />
<strong>The</strong> Clients’ Security Fund was created in 1985 by Rule VIII <strong>of</strong> the<br />
<strong>Supreme</strong> <strong>Court</strong> Rules for the Government <strong>of</strong> the Bar. Its purpose is to<br />
reimburse losses to legal clients as a result <strong>of</strong> the dishonest conduct <strong>of</strong><br />
licensed <strong>Ohio</strong> attorneys.<br />
<strong>The</strong> Clients’ Security Fund continues to achieve its goal <strong>of</strong> providing<br />
reimbursement to law clients who have been financially harmed by the<br />
dishonest conduct <strong>of</strong> a licensed <strong>Ohio</strong> attorney. During fiscal year 2007,<br />
the fund received 256 new applications for reimbursement.<br />
Additionally, the Clients’ Security Fund Board <strong>of</strong> Commissioners met<br />
four times during 2007, and determined 118 claims were eligible for<br />
reimbursement. A total <strong>of</strong> 32 attorneys were involved in claims during<br />
fiscal year 2007, which affirms that the overwhelming majority <strong>of</strong> <strong>Ohio</strong><br />
lawyers observe high standards <strong>of</strong> integrity when entrusted with client<br />
money or property. <strong>The</strong> board awarded $890,173 in reimbursement in<br />
2007. Since its inception, the Clients’ Security Fund has awarded more<br />
than $12 million to 1,567 former law clients.<br />
None <strong>of</strong> the funds used to reimburse clients are public monies. All<br />
Clients’ Security Fund reimbursements are funded by registration fees<br />
paid by every <strong>Ohio</strong> attorney.<br />
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