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News

Friday, February 15, 2013

Printable Version

In this issue:
2013/2014 Annual Membership Fee Renewals in the Mail
Reminder: Requirement to Disclose Information About Trust Accounts to CDIC Member Institutions
From the Practice Advisors

2013/2014 Annual Membership Fee Renewals in the Mail

The Law Society of Alberta has now mailed the 2013/2014 annual membership renewal packages.

Active members must remit the active membership fee of $2,446.50 (GST included), make and declare their annual CPD plan and submit their completed Member Information Update Form. The deadline for fees, receipt of the Member Information Update Form and CPD declaration is Friday, March 15, 2013.

Inactive members must remit the inactive membership fee of $199.50 (GST included) on or before the March 15, 2013 deadline. Inactive members are not required to complete a Member Information Update Form or make and declare a CPD plan.

Do you have questions about your annual membership fee invoice? Please contact Membership Services at 403-229-4781 (1-800-661-9003) or membership@lawsociety.ab.ca.

 

Reminder: Requirement to Disclose Information About Trust Accounts to CDIC Member Institutions

Lawyers are reminded that they are required to comply with the reporting and disclosure obligations as set forth in the Canada Deposit Insurance Corporation Act if they have a trust account at a bank or trust company in Canada which is insured by the Canada Deposit Insurance Corporation (CDIC).

Since 1996, for a trust deposit to enjoy insurance coverage, trustees must disclose certain information on the records of the member institution. Trust deposits are entitled to deposit insurance coverage separate from that being provided to the trustee in its personal capacity.

A law firm can get trust account coverage of $100,000 per client by providing the financial institution with a list showing the clients (identified by client number, not name) and outstanding amounts. The list must be as of April 30 and be sent to the financial institution by May 30 each year. It should also include separate interest-bearing trust accounts.

For more information on CDIC and deposit insurance, visit CDIC’s website at www.cdic.ca or CDIC’s toll-free information line at 1-800-461-2342.

>> Read more here

 

From the Practice Advisors

Two new articles have been posted to the Law Society website:

The first article will be of interest to articling students and their principals. It discusses the sources of an articling student’s authority to act or prohibition against acting in a range of contexts. Common transactional and advocacy settings are considered. The Practice Advisors acknowledge the contribution of summer student Lisa Siew in the preparation of this useful resource.

In the second article, the professional obligations of lawyers to pay bills are clarified in the context of the new Code of Conduct. Back in 1996, former Practice Advisor Barry Vogel wrote on the subject, You order it – You pay for it! Nothing about this, he noted, had changed from the former 1974 Code when the new 1995 Code of Professional Conduct was introduced. The same can be said in 2013. The new article explains the duties as they are set out in the new Code and provides practical guidance for managing law office expenses and client disbursements.

 

Notice to the Profession about Mandatory Dispute Resolution Requirement

Rules 8.4(3)(a) and 8.5(1)(a) of the Alberta Rules of Court will not be enforced by the Court of Queen’s Bench of Alberta until such time as the judicial complement of the Court and other resources permit reinstatement. Effective immediately, parties may enter matters for trial without complying with these Rules.

View the complete Notice to the Profession here.  

 

Printable Version

www.lawsociety.ab.ca
Law Society of Alberta
Calgary Office
Suite 500, 919 11th Avenue SW
Calgary, Alberta T2R 1P3
Phone: 403-229-4700

Edmonton Office
Suite 800, Bell Tower
10104-103 Avenue
Edmonton, Alberta T5J 0H8
Phone: 780-429-3343

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