July 1, 2024
VSB Seeks Comment on Raising the Required Minimum Balance Threshold for the Court’s Authorization of a Dues Increase
The Virginia State Bar (VSB) seeks comment on amending Part 6, Section IV, Paragraph 11 of the Rules of the Supreme Court of Virginia to raise the required minimum balance threshold of the state bar fund and administration and finance account to allow the Supreme Court’s authorization of an annual dues increase. The current level at which the Supreme Court may authorize an annual dues increase occurs when the combined balance falls below 15 percent of the total annual operating expenditures during the year prior to the year a dues increase is sought. The VSB seeks to increase the minimum balance threshold to 30 percent to ensure sufficient time to obtain approval from the Supreme Court and the Virginia General Assembly when a dues increase is required before funds are exhausted.
PROPOSED CHANGES TO THE RULES OF THE SUPREME COURT OF VIRGINIA (Proposed July 2024)
[Deletions noted by strikethroughs; additions by underlining; the portion of Rule 11 proposed for amendment is provided below]
Part 6 Section IV, Paragraph 11. Dues
… No increase in the annual dues above $250 for active members or $125 for associate members will be authorized by the Court whenever the total combined cash balances of the State Bar Fund and the Virginia State Bar's Administration and Finance Account shall exceed fifteenthirty (1530) percent of the total annual operating expenditures of the Virginia State Bar for the year preceding the year in which the dues increase is sought. …
Comment:
Any individual, business, or other entity may submit written comments in support of or in opposition to the proposed action to Cameron M. Rountree, executive director of the Virginia State Bar, by close of business on September 2, 2024. Comments may be submitted via email to [email protected].