204 Pa. Code § 91.174 - Reports of overdrafts
(a)
General rule. Enforcement Rule 221(h) provides that an
Eligible Institution shall report to the Lawyers Fund for Client Security Board
whenever any check or similar instrument is presented against a Trust Account
when such account contains insufficient funds to pay the instrument, regardless
of:
(1) whether the instrument is honored;
or
(2) whether funds are
subsequently deposited that cover the overdraft or the dishonored instrument is
made good.
(b)
Timing of report. Enforcement Rule 221(p) provides that the
report required to be made under this subchapter shall be made by the Eligible
Institution to the Lawyers Fund for Client Security Board within five business
days of the presentation of the instrument.
(c)
Handling of report.
Enforcement Rule 221(o) provides that a designated representative of the
Lawyers Fund for Client Security Board shall conduct a preliminary inquiry
regarding the report and shall, where appropriate, refer the matter to the
Office of Disciplinary Counsel for further investigation.
(d)
Effect of report or
referral. Enforcement Rule 221(o) also provides that neither a report
filed with the Lawyers Fund for Client Security Board pursuant to this
subchapter nor a referral of such report to the Office of Disciplinary Counsel
shall, in and of itself, be considered a disciplinary complaint.
(e)
Immunity. Enforcement
Rule 221(l) provides that Eligible Institutions shall be immune from suit for
the filing of any reports required by this subchapter or believed in good faith
to be required by this subchapter. See 91.173(b) (relating to termination of
approval).
(f)
Service
charge. Enforcement Rule 221(m) provides that an Eligible Institution
shall be free to impose a reasonable service charge upon the attorney in whose
name the account is held for the filing of the report required by this
section.
Notes
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