The Louisiana Bar Foundation
Advancing Equal Justice and law-related education through Fellowship
All About IOLTA
(Interest on Lawyers' Trust Accounts)
The IOLTA Program is the result of a unique partnership between the banking and legal communities. The interest earned on these trust accounts is disbursed by the Louisiana Bar Foundation (LBF) to Louisianas largest civil legal service programs, pro bono programs, battered women shelters, and numerous other community organizations that provide civil legal assistance to Louisianas low-income citizens.
Louisiana Supreme Court Amends Rule 1.15ATTORNEYS DO NOT NEED TO TAKE ANY ACTION!
On January 3, 2008, the Louisiana Supreme Court granted the petition filed by the Louisiana Bar Foundation amending the LSBA Rules of Professional Conduct Rule 1.15 Safekeeping Property, IOLTA Rules.
IOLTA accounts must now earn the same or comparable interest or dividend rates available to similarly-situated non-IOLTA customers at the same financial institution.
The new rule was effective on April 1, 2008.
IOLTA has provided more than $32 million to civil legal aid programs and other charitable projects that improve the administration of justice in Louisiana since its inception in 1989.
- Message from the Louisiana Bar Foundation
- Questions? e-mail iolta@raisingthebar.org or call (504) 561-7317