Bill Summary for S 605 (2017-2018)
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Summary date:
Apr 4 2017
Bill Information:
| View NCGA Bill Details | 2017-2018 Session |
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.
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Bill summary
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.