OSB Professional Liability Fund

PLF Policy 3.400

Proration for Attorneys Leaving Private Practice During the Plan Year

(A) An attorney with PLF coverage who leaves the private practice of law in Oregon during the Plan Year is entitled to proration of the applicable PLF assessment if the attorney meets the criteria stated in subsection (B). The attorney will pay a proportionate assessment on the basis of one-twelfth of the total assessment for each partial or full calendar month that the attorney was in private practice, including the month the attorney leaves private practice. No reduction, proration, or refund will occur for any service charge, late payment charge, or other charges or fees paid or owed by the attorney. Attorneys seeking proration of the applicable PLF assessment under this policy will be required to complete an Application for Proration and sign a Request for Exemption.

(B) To qualify for proration of the applicable PLF assessment under this policy, an attorney must cease to engage in any private practice of law which would require PLF coverage. This means, among other things, that the attorney may not consult with a current, former, or prospective client, partner, fellow shareholder, associate, employee, or associated lawyer concerning the ongoing progress or handling of an existing matter or new matter unless permitted to do so within the scope of the attorney’s PLF exemption.

(C) If an attorney obtains proration of his or her assessment under subsection (A) and returns to PLF coverage in the same Plan Year with a gap in continuous coverage of less than two full calendar months, upon returning to coverage the attorney will be required to pay his or her full annual assessment as if there had been no gap in coverage. In all other cases, an attorney who returns to PLF coverage in the same Plan Year will be assessed according to Policy 3.200(B) upon returning to coverage. Attorneys subject to this subsection may qualify for installment payment privileges according to Policy 3.300(B).

(D) The Retroactive Date for an attorney who obtains proration of his or her assessment under Policy 3.400 and later returns to PLF coverage will be determined according to Policy 3.100.

(E) If an attorney is paying his or her assessment on an installment basis and will be leaving the private practice of law in Oregon prior to the last calendar month of the next installment period, the attorney may simultaneously (1) file an Application for Proration and Request for Exemption indicating the anticipated date of leaving the private practice of law in Oregon, and (2) pay a reduced installment payment as calculated by the PLF based on the anticipated date of leaving the private practice of law in Oregon. The attorney will be responsible for notifying the PLF immediately if the attorney’s actual last day of private practice in Oregon is different than the date previously indicated to the PLF, and will be required to pay immediately any additional assessment amounts which may be due based upon the correct date.