IOLTA Information

IOLTA Information

2008 Rules Change Affects IOLTA Accounts
The Supreme Court of Pennsylvania issued an order on Sept. 4 (posted on Sept. 5, 2008) amending Rule of Professional Conduct (RPC) 1.15 and Rule of Disciplinary Enforcement 221 that fully implements IOLTA interest rate comparability. The amendments are effective upon their being published in The Pennsylvania Bulletin. Effectively, attorneys must hold their trust account funds (IOLTA and non-IOLTA accounts) in eligible financial institutions. To be an eligible financial institution, it must be in compliance with the applicable provisions of RPC 1.15 and the IOLTA regulations; most notably, it must pay interest rates on IOLTA accounts comparable to the highest rate the financial institution pays to its other customers.

This action by the Supreme Court could result in an increase of IOLTA revenues of approximately $2.8 million annually (at today’s interest rates, all other factors remaining unchanged, for example principal balances, etc.).

2008 IOLTA Pro Bono Initiative Grants Available (Deadline Feb. 8)

2008 IOLTA Pro Bono Incentive Grant Information

2008 IOLTA Pro Bono Incentive Grant Application

IOLTA 2007 Pro Bono Grant Awards

IOLTA Pro Bono Support Request 2007

PBA IOLTA Grant 2007-08

PBA IOLTA Grant 2006-07

PBA IOLTA 2005-06 GRANT Program Report

Pennsylvania IOLTA Board

PBA IOLTA Pro Bono Grant 2005-06

2005 IOLTA Grants Approved

Pro Bono IOLTA Grants 2003-04