Montana SB31 seeks to make participation in the IOLTA program voluntary.
Montana SB31 addresses the Interest on Lawyer Trust Account (IOLTA) program, which mandates that lawyers deposit client funds into interest-bearing trust accounts. The bill argues that the Supreme Court's order forcing lawyers to participate in the IOLTA program is unconstitutional. It proposes that participation in the IOLTA program should be voluntary, allowing lawyers to deposit client funds into non-interest-bearing trust accounts or interest-bearing accounts where the client receives the interest.
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