The IOLTA program, authorized by the Supreme Court of Utah in 1983, allows attorneys to hold interest-bearing accounts. The interest from these accounts is remitted at least quarterly to the Utah Bar Foundation, a charitable, tax-exempt entity. Click here to see Utah Supreme Court Opinion In the Matter of INTEREST ON LAWYERS’ TRUST ACCOUNTS, 672 P.2d 406 (UT. 1983).
For general information on client trust accounts or to see Rule 1.15 Safekeeping Property click here.
TO SEE A COPY OF THE AMENDED IOLTA RULE EXECUTED APRIL 1, 2008, PLEASE CLICK HERE.
To see a list of IOLTA Eligible Financial Institutions, please click here.
The IOLTA program is directly administered through the Utah Bar Foundation which is a separate organization that the Utah State Bar. Their website can be found at http://www.utahbarfoundation.org