§ 10-312. Powers and duties of trustees

   (a) In general. -- The trustees appointed under § 10-311 of this subtitle shall:

   (1) receive contributions to the Fund; and

   (2) manage the assets of the Fund.

(b) Distribution of Fund. -- To the extent the trustees consider reimbursement proper and reasonable, the trustees may use the Fund to reimburse a person for a loss that was caused by a defalcation of a lawyer if:

   (1) the lawyer caused the loss while acting for the person as an attorney at law or a fiduciary; and

   (2) the person cannot recover the money under a bond.

(c) Enforcement of claims. -- The trustees may enforce a claim for restitution arising by subrogation, assignment, or otherwise against any person whose actions gave rise to a claim that the Fund pays.

HISTORY: An. Code 1957, art. 10, § 43; 1989, ch. 3, § 1.