What Kinds of Losses are Covered?
The Client Security Fund covers most situations in which lawyers have stolen clients’ money or other property entrusted to them. The attorney in question must be a Minnesota lawyer, and must have served the client as an attorney, in a fiduciary capacity (as administrator, executor, trustee of an express trust, guardian, or conservator), or as an escrow agent arising from an attorney-client relationship. The maximum amount the Board may pay on a claim is $150,000. Payment by the Board is a matter of grace, not of right.
