(a) TheSupreme Court will provide for funding by the lawyers licensed in this state inamounts adequate for the proper payment of claims and costs of administeringthe Fund subject to paragraph (c).
(b) Alldeterminations regarding funding will be within the discretion of the Board,subject to the Supreme Court?s approval.
(c) TheBar has authority to assess its members for purposes of maintaining the Fund atsufficient levels to pay eligible claims in accordance with these rules. TheCommittee must report annually to the Commission on a timely basis as to knownprospective claims as well as total claims paid to date so that an appropriateassessment can be made for the upcoming fiscal year. After the assessment atthe beginning of the fiscal year is determined, the Fund balance must be set inan amount of at least $200,000. The Bar will then report to the Supreme Courtas to known prospective claims as well as total claims paid to date after whichthe final assessment and fund balance will be set with the Court?s approval.
(d) Alawyer?s failure to pay any fee assessed under paragraph (c) is cause foradministrative suspension from practice until payment is received.
(e) Anylawyer whose actions have caused payment of funds to a claimant from the Fundmust reimburse the Fund for all monies paid out as a result of the lawyer?sconduct with interest at legal rate, in addition to payment of the assessmentfor the procedural costs of processing the claim and reasonable attorney feesincurred by the Office of Professional Conduct or any other attorney orinvestigator engaged by the Committee to investigate and process the claim as acondition of continued practice.
(1) In lawyer discipline cases forwhich the Fund pays an eligible claim, the lawyer?s license to practice will beadministratively suspended for non-payment until the lawyer has reimbursed theFund.