Who Finances the Lawyers’ Fund?

New York’s legal profession financially supports the Lawyers’ Fund.  The biennial registration fee required of every practicing attorney in the State is the primary source of revenue for the Lawyers’ Fund.  Section 468-a of the Judiciary Law allots $60 of each $375 registration fee, or $30 per year, to the Fund.

No tax dollars are used to finance the Lawyers’ Fund.  Also, the Fund does not receive any revenue from the  IOLA (Interest on Lawyer Account) program.

The Fund’s other sources of revenue include restitution, interest, judicial sanctions, contributions and unclaimed escrow deposits of missing clients and deceased attorneys held by the Fund for over five years pursuant to court rules.