Rule 17A-001. Purpose and definitions.

A. Purpose. The purpose of the New Mexico client protection fund is to promote public confidence in the administration of justice and the integrity of the legal profession by reimbursing losses caused by the dishonest conduct of lawyers admitted and licensed to practice law in the courts of this jurisdiction occurring in the course of the client-lawyer or other fiduciary relationship between the lawyer and the claimant. B. Definitions. For purposes of these rules: (1) "board" means the Board of Bar Commissioners of the State Bar of New Mexico; (2) "chair" means the chair of the Client Protection Fund Commission; (3) "commission" means the Client Protection Fund Commission; (4) "Court" means the New Mexico Supreme Court; (5) "fund" means the New Mexico client protection fund; (6) "lawyers" means lawyers admitted and licensed to practice law in New Mexico, including lawyers admitted pro hac vice and lawyers recently suspended or disbarred whom clients reasonably believed to be licensed to practice when the dishonest conduct occurred; and (7) "secretary" means the secretary of the fund. C. Lawyer obligation. Every lawyer has an obligation to the public to participate in the collective effort of the bar to reimburse persons who have lost money or property as a result of the dishonest conduct of another lawyer. Contribution to the fund is an acceptable method of meeting this obligation. D. Title. These rules shall be known as the Rules Governing the Client Protection Fund.