Rule 17A-002. Creation of client protection fund and commission.

A. Fund created. The "client protection fund" is created to reimburse claimants for losses caused by dishonest conduct committed by lawyers admitted to practice in this state. B. Commission created. There is established, under the supervision of the court, a permanent commission of the Board of Bar Commissioners of the State Bar of New Mexico known as the Client Protection Fund Commission, which shall receive, hold, manage and disburse from the fund such money as may from to time be allocated to the fund. C. Administration. The State Bar of New Mexico shall administer the commission and shall develop and approve budget, operations and staffing for the commission and provide an annual status and progress report to the court.