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Does the Fund provide a benchmark for determining whether a sum of money is appropriate to be placed in an IOLA?

April 26, 2017appropriate benchmark determining fund iola money Placed

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Does the Fund provide a benchmark for determining whether a sum of money is appropriate to be placed in an IOLA?

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No, the attorney makes that determination taking into account the amount of deposit, the duration it is expected to be held, and current interest rates and bank fees on non-IOLA escrow accounts.