SUPREME COURT OF WISCONSIN
In the Matter of the Amendment of
Supreme Court Rules, SCR 12.04(2) ORDER
The court held a public hearing April 15, 1997, on the petition of the Board of Governors of the State Bar of Wisconsin asking that SCR 12.04(2) and (3) be amended to increase from $150,000 to $250,000 the balance required to be maintained in the Clients’ Security Fund. The court has considered the petition filed December 12, 1996, and the presentation at the public hearing.
IT IS ORDERED that, effective the date of this order, the Supreme Court Rules are amended as follows:
1. 12.04(2) and (3) of the Supreme Court Rules are amended to read:
Assessments. Commencing with the state bar’s July 1, 1982 fiscal year, every
attorney shall pay to the fund such annual assessment as
necessary to maintain a balance in the fund of $ 150,000 250,000,
but in no event shall any annual assessment exceed $15. An attorney whose
annual state bar membership dues are waived for hardship shall be excused from
the payment of the annual assessment for that year. An attorney shall be
excused from the payment of the annual assessment for the fiscal year during
which he or she is admitted to practice in Wisconsin.
of Sufficiency. The committee shall determine the net value of the fund as of
May 1 of each year. Whenever the value of the fund shall equal or exceed $
250,000, after deducting all claims which the committee has determined
to pay and which are not disposed of at the date of valuation and all expenses
properly chargeable against the fund, the committee shall file with the supreme
court prior to May 31 of that year a certificate of sufficiency to that effect.
When a certificate of sufficiency is filed with the supreme court, there shall
be no annual assessment for the next fiscal year.
IT IS FURTHER ORDERED that notice of these amendments of the Supreme Court Rules shall be given by a single publication of a copy of this order in the official state newspaper and in an official publication of the State Bar of Wisconsin.
Dated at Madison, Wisconsin, this 16th day of April, 1997.
BY THE COURT:
Cornelia G. Clark, Chief Deputy Clerk