Rule 53 Consideration by the Board

(a) All reports filed by the Committee pursuant to Rule 52(d) are advisory only and shall be placed upon the calendar of the Board for consideration.

(b) The Board has the sole and final authority to determine whether and to what extent any application for reimbursement shall be granted and shall determine the order, manner (which may be in installments), and amount of payment of each application. The Board may postpone consideration of any application until after any disciplinary action or any court proceeding pending or contemplated has been completed.

(c) Before the Board directs that payment from the Fund be made it must find that a reimbursable loss as defined in these rules has been established and the extent of the said loss.

(d) The loss to be paid to any individual claimant as the result of any dishonest act or omission in any one transaction, matter or proceeding involving any one lawyer shall not exceed the lesser of the following sums: (a) $100,000, or (b) 10% of the Fund at the time the award is made. The total amount to be paid to all claimants in any one year shall not exceed 50% of the total amount of the Fund as of January 1 of the calendar year in which the awards are made.