Iowa Client Trust Account Rules (Iowa Court Rules Chapter 45)
Rules 45.4 to 45.6: pooled interest-bearing (IOLTA) accounts, service charges and annual certification – Iowa Client Trust Account Rules (Iowa Court Rules Chapter 45)

Iowa Client Trust Account Rules (Iowa Court Rules Chapter 45) 45.4-1: Maintain a pooled interest-bearing trust account for nominal or short-term funds and tell the client where the interest goes

What does 45.4-1 require?

A lawyer who receives client or third-person money keeps one pooled, interest-earning trust account for sums that are small or likely to be held only briefly. This is Iowa's IOLTA account. The lawyer tells the client or outside party that net interest on the pooled account (after allowable monthly service charges) goes to the supreme court's Lawyer Trust Account Commission rather than to them.

Maintained by Gerard Blokdyk

Other controls in Rules 45.4 to 45.6: pooled interest-bearing (IOLTA) accounts, service charges and annual certification – Iowa Client Trust Account Rules (Iowa Court Rules Chapter 45)

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