Powers and duties of the board

(1) In consultation with the state bar board of governors, the board shall adopt articles of incorporation, bylaws and rules and procedures consistent with this chapter for the operation and administration of the fund and the program and the management of its affairs. Except as provided in sub. (2), these actions are subject to review by the supreme court on its own motion or upon petition of any interested party. (1m) The board shall manage the fund and the program and may invest any moneys received by the fund or program consistent with the purposes of this Chapter. (2) (a) The board shall accept grant applications and make grants or expenditures from the program for any of the following purposes: 1. To aid the courts and improve the administration of justice by providing legal services to persons of limited means. 2. To fund programs for the benefit of the public as may be 60 specifically approved from time to time by the supreme court for exclusively public purposes. 3. To pay the reasonable and necessary expenses of the board the incurred for and other costs reasonably and necessarily administration of the program. (am) The board shall accept grant applications and make grants or expenditures from the fund to aid the courts and improve the administration of justice by providing legal aid to persons of limited means. (b) Grant-making decisions of the board are final and not subject to appeal or judicial review. (3) Omitted. (4) If a client asserts a claim against an attorney based upon the attorney's determination to place the client's funds in a trust account under SCR 20:1.15 (c) (1) rather than in a segregated trust account under SCR 20:1.15 (c) (2), the board, upon written request by the attorney, shall review the claim and: (a) If, at the time of their deposit, the funds could reasonably have been expected to produce a positive net return to the client, approve the claim and remit directly to the claimant any sum of interest remitted to the board on account of the funds; or (b) If, at the time of their deposit, the funds could not reasonably have been expected to produce a positive net return to the client, reject the claim and advise the claimant in writing of the grounds therefor. If there is subsequent litigation involving the claim, the board shall interplead any sum of interest remitted to the board on account of the funds and shall assume the defense of the action. (5) The fund and program shall be audited by auditors annually and at such other times as the supreme court may direct, the audits to be at the expense of the program and fund. Each year the board shall submit to the supreme court and the state bar board of governors a report of its activities during the preceding year, including the audit, reviewing in detail the administration of the fund and the program.