J. MILLARD TAWES, Governor                     1211

and to be under the new subtitle "Clients' Security Trust Fund
of the Bar of Maryland," authorizing the Court of Appeals by
rule and regulation to provide for the creation and operation of a
"Clients' Security Trust Fund of the Bar of Maryland;" to pro-
vide generally for the Trustees, purposes, collection and admini-
stration of said Fund; and to authorize the imposition of penalties
for violation of this Act or of the rules and regulations promulgated
thereunder.

Section 1. Be it enacted by the General Assembly of Maryland,
That a new Section 43 be and it is hereby added to Article 10 of the
Annotated Code of Maryland (1957 Edition), title "Attorneys at
Law and Attorneys in Fact," to follow immediately after Section 42
thereof, and to be under the new subtitle "Clients' Security Trust
Fund of the Bar of Maryland," and to read as follows:

Clients' Security Trust Fund of the Bar of Maryland
43.

(a)   The Court of Appeals by rules and regulations may provide
for the creation and operation of a "Clients' Security Trust Fund
of the Bar of Maryland," and for the appointment of Trustees to
administer the Fund.

(b)   The general purposes and authority of the Fund and of its
Trustees shall be to

(1)  Receive, hold, manage, and distribute the funds raised here-
under and, any other monies that may be received through voluntary
contributions or otherwise, for the purposes of maintaining the in-
tegrity and protecting the good name of the legal profession by
reimbursing, to the extent deemed proper and reasonable by the
Trustees, losses caused by defalcations of members of the Bar of the
State of Maryland, acting either as attorneys or as fiduciaries (except
to the extent to which they are bonded);

(2)  Enforce claims for restitution, arising by subrogation or as-
signment or otherwise.

(c)   The Court of Appeals, by its rules and regulations, may re-
quire that as a condition precedent to the practice of law as defined
in this Article each lawyer now or hereafter admitted to practice
before the Court of Appeals shall pay annually to the treasurer of
the Fund an amount not in excess of Twenty Dollars ($20.00).

(d)   The Court of Appeals in its rules and regulations may specify
the penalties including suspension and disbarment, for practicing
law as defined in this Article without having made such annual
payment.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1965.

THAT THE INTENT OF THE GENERAL ASSEMBLY IN THE
ENACTMENT OF SECTION 1 OF THE ACT IS THAT IF ANY
FUND NOW IN EFFECT UNDER THE RULES AND REGULA-
TIONS OF ANY LOCAL BAR ASSOCIATION BE MERGED INTO
AND PAID OVER TO THE FUND BY THE ACT AUTHORIZED,