Unclaimed Trust Funds Application
Application to Pay Unclaimed Trust Funds to the LSBC
If you have been holding client trust funds on behalf of a person you have been unable to locate for two years, you may apply to the Executive Director to pay those funds to the LSBC under s. 34 of the Legal Profession Act. On so paying, your liability to pay the money to the person on whose behalf it was held, or to that person's legal representative, is extinguished. The LSBC is required to maintain the money as stipulated by the Act.
The Application to Pay Unclaimed Trust Funds requires you to specify the efforts you have made to locate the person and any unfulfilled undertakings in relation to the funds.6 For the purposes of the application, a "person" is defined by the Interpretation Act, R.S.B.C. 1996, c. 239 and so includes a corporation, partnership or party, and the personal or other legal representatives of a person.
6 The Application to Pay Unclaimed Trust Funds form is on the LSBC website in PDF format.