Utah Bar Foundation
IOLTA is an acronym for Interest on Lawyers’ Trust Accounts. The Program was created by the Utah Supreme Court in 1983 and requires all attorneys handling client funds to place those funds in an interest bearing account. Interest earned on the accounts is remitted monthly to the Utah Bar Foundation. Supreme Court Rule of Professional Practice 14-1001 governs lawyer IOLTA accounts and Supreme Court Rule of Professional Practice 15-1001 governs LPP IOLPPTA accounts.
The Utah Bar Foundation was founded in 1963 to provide funding for legal services for the poor and disabled and for law-related education. While the Foundation enjoys a good working relationship with the Utah State Bar, it is NOT part of the Bar. For more information about the Utah Bar Foundation or questions about IOLTA accounts go to www.utahbarfoundation.org or 801-297-7046.