Does the Client Security Fund Board pay all claims in full?
No. Any reimbursement by the fund is within the sole discretion of the board and not a matter of right. For any amount to be paid, the claim must first be shown to be one that is a reimbursable loss. Further, in deciding whether to pay any or all of a claim, the board may consider such things as the financial condition of the fund, any negligence of the applicant that contributed to the loss, the comparative hardship the applicant suffered because of the loss, the total amount of reimbursable losses in previous years for which complete reimbursement has not yet been made, the total assets of the fund, and the amount of insurance or other sources of funds available to compensate an applicant for a reimbursable loss.
Any reimbursement by the fund is within the sole discretion of the board and not a matter of right. For any amount to be paid, the claim must first be shown to be one that is a reimbursable loss. Further, in deciding whether to pay any or all of a claim, the board may consider such things as the financial condition of the fund, any negligence of the applicant that contributed to the loss, the comparative hardship the applicant suffered because of the loss, the total amount of reimbursable losses in previous years for which complete reimbursement has not yet been made, the total assets of the fund, and the amount of insurance or other sources of funds available to compensate an applicant for a reimbursable loss.
