Rule 10. Restitution and subrogation

(a) A lawyer whose dishonest conduct results in reimbursement to a claimant shall be liable to the Fund for restitution including interest and the expense incurred by the Fund in processing the claim. The Committee may bring such action as it deems advisable to enforce such obligation. (b) As a condition for reimbursement, and to the extent of the reimbursement provided by the Fund, a Claimant shall be required to provide the Fund with a transfer and assignment of Claimant’s rights against the lawyer, the lawyer’s legal representative, estate or assigns; and of Claimant’s rights against any third party or entity who may be liable for Claimant’s loss. (c) Upon commencement of an action by the Committee as subrogee or assignee of a claim, it shall advise the Claimant, who may then join in such action to recover Claimant’s unreimbursed losses. (d) In the event Claimant commences an action to recover unreimbursed losses against the lawyer or another entity that may be liable for Claimant’s loss, Claimant shall promptly notify the Committee of such action. Failure by the Claimant to so notify the Committee may result in reconsideration of Claimant’s claim and adjustment odification of payment. (e) Claimant shall be required to agree to cooperate in all efforts undertaken by the Committee to achieve restitution for the Fund, and to repay the Fund if Claimant is CLIENT PROTECTION FUND subsequently reimbursed from another source an amount that exceeds the difference between the amount misappropriated and the amount reimbursed by the Fund. Such repayment shall not exceed the amount paid by the Fund. (Added May 16, 2017, effective July 1, 2017.)