What to do with the Virginia State Bar $9,700,000 slush fund

The Virginia State Bars's $9,700,000 Slush fund, the real purpose behind it!

Lets look at what the VSB states and compare with the statistics.
According to the Virginia State Bar website:
http://www.vsb.org/site/public/clients-protection-fund

The purpose of the Clients’ Protection Fund is to promote public confidence in the administration of justice and the honour and integrity of the legal profession by reimbursing all or part of losses sustained by clients or those to whom a fiduciary duty is owed as a result of a Virginia State Bar member’s dishonest conduct. 

The bar has a strong disciplinary system for reprimanding, suspending or disbarring lawyers who violate the strict standards of Virginia’s ethics rules. However, the state bar recognizes that a disciplinary system alone is not enough, and that it is desirable to protect the public from lawyers who mishandle. Just how many lawyers were officially disciplined? From 1999-2016, only 1 lawyer that was from a "big firm".

• Each petitioner may receive no more than $75,000.00 for losses that occurred on or after July 1, 2015 or $50,000.00 for losses that occurred before July 1, 2015.
• The loss was caused by the dishonest conduct of the lawyer, not by negligence or malpractice.
• The loss arose from a lawyer-client relationship or a fiduciary relationship between the lawyer and the claimant.

One of the following applies to the lawyer:

• The lawyer has been suspended or disbarred from the practice of law for disciplinary reasons
• The lawyer has voluntarily resigned from the practice of law;
• The lawyer has died;
• The lawyer has been found mentally incompetent; or
• The lawyer’s whereabouts is unknown to the Virginia State Bar.

If you have any questions you may contact Vivian Byrd (VSB) at (804) 775-0572.

Lets look at the numbers:

How many lawyers are licensed to practice in Virginia? More than 29,000 lawyers are admitted to practice in Virginia. More than 45,000 attorneys are registered in all categories of membership, including associate, judicial and retired.


An active member pays $250 per annum, a non-active pays $125.
Full time Judicial, retired or disabled pay no annual dues.
There is also a $50 late fee for any dues not paid by July 31 deadline.
2016-17 Membership Dues 10,466,277.22 

The VSB charges $25 per attorney for the Clients’ Protection Fund.
2016-17 Clients' Protection Fund Assessment & Restitution 839,984.65

The Virginia State Bar’s Clients’ Protection Fund awarded $38,168.33 in reimbursements to former clients of 11 Virginia lawyers at a meeting Sept. 15. The CPF board approves awards to persons who suffer financial loss because of dishonest conduct by Virginia lawyers. The largest of the awards was $7,333.33

http://valawyersweekly.com/2017/11/06/vsb-pays-38k-from-client-protection-program/



WHAT MONEY HAS REALLY BEEN PAID TO VICTIMS IF THERE IS A $9.7 MILLION BALANCE IN THIS ONE FUND?

WHY HAVEN'T MORE VICTIMS BEEN MADE WHOLE?

WHY IS THERE ANY LARGE SURPLUS IN THIS FUND?

WHO OR WHAT (VIRGINIA SUPREME COURT OR THE ELECTED COUNCIL OF THE VSB) HAS AUTHORIZED THE VSB TO BUILD UP THIS $9.7 MILLION  SURPLUS?

It has risen over $700,000. IN THE PAST YEAR!!!!

THE VIRGINIA STATE BAR AND THE VIRGINIA SUPREME COURT SHOULD BE ASHAMED FOR NOT REDUCING ALL VIRGINIA LICENSED LAWYERS' DUES YEARS AGO IN 1995 WHEN JLARC TOLD THE VSB IT SHOULD REDUCE THE VIRGINIA LAWYERS' DUES. 


In effect, the VSB is taking money from all Virginia Lawyers who pay yearly dues to build up a Slush Fund for the VSB.

VSB Client Protection Fund Contact Info:
Phone: (804) 775-9426
E-mail: cpf@vsb.org
Administrator: Vivian R. Byrd
Counsel to CPF: Jane A. Fletcher
Deputy Executive Director: Renu M. Brennan

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