Mass. R. Sup. Jud. Ct. 4:06

As amended through October 3, 2024

Rule 4:06 - Miscellaneous Powers and Duties of Clients' Security Board

Section 1.

In addition to other powers the Board may:

(A) adopt, with the approval of this court, rules that are consistent with these rules;

(B) enforce, in its discretion, claims for restitution arising by subrogation, assignment, or otherwise;

(C) invest or direct the investment of the Fund, or any portion thereof, in such investments as the Board may deem appropriate, and may cause funds to be deposited in any bank, banking institution, savings bank, or federally insured savings and loan association in this Commonwealth provided, however, that the Board shall have no obligation to cause the Fund or any portion thereof to be invested;

(D) employ and compensate consultants, agents, legal counsel, and employees;

(E) enter into contracts for goods and services as are necessary for the Board to carry out its duties;

(F) obtain surety bond or insurance coverage useful or appropriate in providing protections to clients of attorneys;

(G) assign for administrative purposes its duties under subsections (D) and (E) to the Executive Director of the Board of Bar Overseers, in accordance with the Board's written directions, which the Board may amend or rescind at any time;

(H) sue in the name of the Board without joining any or all of its individual members; and

(I) perform other acts necessary or proper for the efficient administration of the Fund.

Section 2.

The Board shall authorize disbursement of money from the Fund only after issuing a written order pursuant to this Chapter Four.

Section 3.

At least once each year, and at such additional times as the court may order, the Board shall file with this court a written report of its administration of the Fund. The written report shall include a list of any material written contracts into which the Board entered, including the name of the contracting party, the amount of the contract, the beginning and end date of the contract, and the scope of work to be accomplished.

Section 4.

The Board shall annually, and at such other times as this court may direct, obtain an independent audit by a certified public accountant of funds received and paid out in connection with the administration of the Fund. The Fund shall pay the cost of any such audit.

Mass. R. Sup. Jud. Ct. 4:06

Adopted June 3, 1974, effective 9/1/1974. Amended October 1, 1998, effective 11/2/1998; amended June 26, 2019, effective 9/1/2019.