Bar News - November 13, 2009
Public Protection Rule Revised
The NH Supreme Court has approved several revisions to Supreme Court Rule 55 which will take effect for defalcations that occur on or after Jan. 1, 2010.
The revised Rule 55 will increase the maximum reimbursement limits (on a per-attorney or a per-claimant basis in any fiscal year) to $250,000 from the current level of $150,000. The rule retains a $1 million limit on total claims paid out in any fiscal year (requiring all claims paid to be reduced proportionally.)
The amendments allow the fund to pay claims of less than $2,500 when the claims are finalized, rather than requiring payment at the end of the fiscal year. These small claims will not be subject to the $250,000 caps described above.
Amendments to Rule 55 proposed by the Public Protection Fund Committee were reviewed by the NH Supreme Court Advisory Committee on Rules. The amended rules were approved in a Supreme Court order dated Oct. 16, 2009.