204 Pa. Code § 81.103 - Lawyers
(a) If a lawyer is
required to maintain a Trust Account, the lawyer shall comply with these
regulations and participate in IOLTA if the lawyer meets either of the
circumstances set forth in (i) or (ii):
(i)
Practices law in Pennsylvania: The lawyer practices law from an office within
the Commonwealth of Pennsylvania.
(ii) Practices law in and out of
Pennsylvania: If a lawyer primarily practices outside of Pennsylvania but also
handles Qualified Funds related to the practice of law in Pennsylvania, then
the lawyer must deposit Qualified Funds related to the lawyer's Pennsylvania
practice in a Pennsylvania IOLTA Account.
(b) Nothing herein shall be construed to
require a lawyer who does not receive Rule
1.15 Funds to maintain an IOLTA
Account.
(c) Law Firm Compliance: A
lawyer may use an IOLTA Account in common with other lawyers in his or her
firm, whether organized as a partnership, professional association,
professional corporation, limited liability company or partnership, or other
form of organization. However, each lawyer has an individual duty to comply
with Pa.R.P.C. and these regulations.
(i) A
law firm may register its IOLTA account and submit a list of all lawyers in the
firm who use the IOLTA Account for the maintenance of all Qualified Funds
received by the lawyer.
(ii) Each
lawyer using the IOLTA Account for the deposit of all Qualified Funds received
by him or her will be in compliance with IOLTA.
(d) Newly admitted lawyer: A lawyer newly
admitted to the bar of the Supreme Court of Pennsylvania must comply with these
regulations within sixty (60) days of admission to the bar.
(e) Change of employment: A lawyer who
changes employment status must comply with these regulations within sixty (60)
days of the change, unless the lawyer no longer meets the requirements of
subsections (a)(i)-(ii) of this Section
81.103 or is no longer required
to maintain a Trust Account.
(f)
Subsequent eligibility: Any lawyer not having met the requirements of
subsections (a)(i)-(ii) of this Section
81.103, who subsequently meets
the requirements of subsections (a)(i)-(ii) and who must maintain a Trust
Account, must comply with these regulations within sixty (60) days of
subsequent eligibility.
Notes
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