Enacts new GS 84-21(a1) requiring the State Bar Council (Council) to adopt rules to allow an attorney to designate which of the programs selected by the Council and approved by the North Carolina Supreme Court for receipt of funds under the Interest on Lawyers' Trust Account Program (IOLTA) will receive the interest generated from the pooled funds in the attorney's IOLTA account. Makes conforming changes to GS 45A-9. Effective October 1, 2017.
ATTORNEY OPTIONS/IOLTA FUNDS.
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AN ACT TO ALLOW AN ATTORNEY TO SELECT THE RECIPIENT OF IOLTA FUNDS FROM AMONG THE PROGRAMS ADOPTED BY THE STATE BAR COUNCIL AND APPROVED BY THE NORTH CAROLINA SUPREME COURT.Intro. by Rabon, B. Jackson.
Status: Re-ref to Judiciary. If fav, re-ref to Rules and Operations of the Senate (Senate Action) (Apr 5 2017)
Bill History:
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Tue, 4 Apr 2017 Senate: Filed
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Wed, 5 Apr 2017 Senate: Passed 1st Reading
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Wed, 5 Apr 2017 Senate: Ref To Com On Rules and Operations of the Senate
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Wed, 5 Apr 2017 Senate: Withdrawn From Com
S 605
Bill Summaries:
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Bill S 605 (2017-2018)Summary date: Apr 4 2017 - View Summary
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