The Virginia State Bar’s Standing Committee on Legal Ethics is seeking public comment on proposed revisions to Rule 1.8, Conflict of Interest: Prohibited Transactions.
The proposed amendment, allowing the advancement of costs and expenses to be contingent on the outcome of the matter, would bring Virginia’s rule in line with at least 47 other states that have adopted the ABA Model Rule on this topic.
The proposal also adds Comment 10, an ABA Model Comment that explains the rationale for the prohibition on providing financial assistance as well as the permissible exceptions.
The full proposal can be viewed here. Comments are due by July 13, 2018.Updated: May 22, 2018
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