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Where do attorneys deposit client trust funds that do not meet the short-term or nominal fund requirements of IOLTA?

April 26, 2017attorneys client deposit fund funds meet nominal requirements short-term Trust

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Where do attorneys deposit client trust funds that do not meet the short-term or nominal fund requirements of IOLTA?

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Client trust funds that do not meet the nominal or short-term fund requirements of an IOLTA account should be deposited in a separate demand account to earn interest for the benefit of that client. The attorney must use that client’s tax ID number instead of SCBF’s tax ID number.