Re: I.O.L.T.A. Accounts

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Have things changed or was I mistaken back in the 1990’s? I was
under the impression that the Interest on Lawyer’s Account or
IOLA was a voluntary account you could choose to put your
clients funds in. When I worked for Chemical (now Chase) we gave
them the option of an IOLA or an Attorney Trust Account the
Interest from the IOLA would go to the State’s IOLA fund while
the interest earned on the Attorney Trust Account would go to
the client.

On 7/06/06, Carol wrote:
> On 7/05/06, rrr wrote:
>> On 7/05/06, W. B. Straight, Esq. wrote:
>>> Is it morally permissible, according the tenets of the
>>> Christian Religion--say the Roman Catholic Faith--for an
>>> attorney to put his client's money held in trust by him in
>>> an interest-bearing trust account and authorize the bank to
>>> pay the interest earned off of his client's money to a
>>> third party, such as a bar foundation?
>>>
>>> WBS, Esq.
>>
>> No, but he does not have any choice. The supreme court
> orders
>> him to do that.
> I'm not Catholic but I was married to one for over 2
> decades. Which tenent does IOLTA conflict with?