Information on Minnesota State Agencies, Boards, Task Forces, and Commissions
Compiled by the Minnesota Legislative Reference Library
Client Security Board
Also known as:
Minnesota Client Security Board
Court Rules - Rule 1
The Client Security Board was established by the Minnesota Supreme Court to pay genuine claims against lawyers who have intentionally and dishonestly caused clients to lose money. The seven-member volunteer board, composed of five lawyers and two non-lawyers, pays the claims with funds collected through annual fees paid by attorneys.
At least once a year and at such other times as the Supreme Court may order, the Board shall file with the Court a written report reviewing in detail the administration of the Fund, its operation, its assets and liabilities.
Most lawyers in Minnesota who pay lawyer registration fees pay $12 per year to support the Client Security Fund (CSB). In 1998, the Supreme Court recommended informal parameters for the Fund of $1.5 million and $2.5 million, with the Board to report to the Court if the Fund drops below or exceeds these figures.
The Board does not directly handle any funds or the investment of the Fund. The assessment is collected through the Office of Lawyer Registration and placed into a segregated fund within the State Treasury.
The Office of Lawyers Professional Responsibility (OLPR) provides staff services to the Client Security Board. The Minnesota Attorney General provides legal services to the Client Security Board in enforcing its subrogation rights against attorneys on whose behalf the Board has paid claims, or against any third persons from whom payments may be legally obtained.
The Fund is administered by a Board appointed by the Court, and consists of five lawyer members and two non-lawyer members. All serve without compensation as a public service.
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