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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 40-5-36 SO AS TO PROVIDE THAT NO INTEREST ON FUNDS OF A CLIENT ON DEPOSIT IN A TRUST OR ESCROW ACCOUNT OF AN ATTORNEY LICENSED TO PRACTICE LAW IN THIS STATE MAY BE REMITTED TO THE SOUTH CAROLINA BAR PURSUANT TO THE RULE OF THE SUPREME COURT FOR USE IN PRO BONO BAR ACTIVITIES AND TO PROVIDE THAT FUNDING FOR THESE PRO BONO ACTIVITIES MUST BE PROVIDED TO THE JUDICIAL DEPARTMENT BY THE GENERAL ASSEMBLY IN THE ANNUAL GENERAL APPROPRIATIONS ACT IN THE MANNER THE GENERAL ASSEMBLY SHALL PROVIDE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 5, Title 40 of the 1976 Code is amended by adding:
"Section 40-5-36. No interest on funds of a client on deposit in a trust or escrow account of an attorney licensed to practice law in this State may be remitted to the South Carolina Bar pursuant to the rule of the Supreme Court for use in pro bono bar activities. Funding for these pro bono activities must be provided to the judicial department by the General Assembly in the annual general appropriations act in the manner the General Assembly shall provide."
SECTION 2. This act takes effect upon approval by the Governor.
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