Rule 602 - Appropriation to and Maintenance of FundThe Board shall provide funding necessary for the proper payment of Claims and the costs of administration of the Fund from an assessment on the members of the Bar; from donations made to the Fund; through accrual of interest on monies held in the Fund; and, if deemed feasible by the Board, through the purchase of insurance
(a)Assessment. Each fiscal year following establishment of the Fund, the Board shall assess an amount not to exceed $20 per member, with the exception of judicial members, to reimburse the Fund for any claims paid during the prior fiscal year, or until the Fund reaches a total amount of $1,000,000. In the event such assessment does not fully reimburse the Fund, the Board shall continue to assess each year an amount not to exceed $20 per member until the Fund reaches a total amount of $1,000,000.(b)Investment. All monies or other assets collected for the Fund shall be held in a separate account in the name of the Fund, subject to the written direction of the Board, provided that the Board may prudently invest such portions of Fund monies that are not currently needed to pay Losses. (1)Accrued Interest. Interest accrued or accruing on the monies held in the Fund may be maintained in the Fund even if the total amount of the Fund exceeds $1,000,000.(c)Insurance. Insurance to cover extraordinary Losses in excess of Fund assets may be purchased by the Board, if such insurance is deemed prudent and feasible by the Board.