Interest on Lawyers’ Trust Accounts program

E548434

The Interest on Lawyers’ Trust Accounts program is a legal funding mechanism that pools interest from client trust accounts to support civil legal aid and justice-related services for low-income individuals.

All labels observed (2)

How this entity was disambiguated

Statements (46)

Predicate Object
instanceOf legal funding mechanism ⓘ
public interest finance program ⓘ
aimsTo provide a dedicated revenue stream for civil legal aid ⓘ
reduce the justice gap for low-income people ⓘ
appliesTo lawyers who hold client funds in trust ⓘ
benefitsEntity civil legal aid organizations ⓘ
justice-related service providers ⓘ
contributesTo expansion of legal services for underserved communities ⓘ
funding stability for civil legal aid ⓘ
ensures interest on nominal or short-term client funds is used for public purposes ⓘ
fundingModel pooled interest from lawyers’ trust accounts ⓘ
fundsMayBeUsedFor legal aid training and support services ⓘ
outreach and education about legal rights for low-income communities ⓘ
technology and infrastructure for legal aid providers ⓘ
hasAcronym IOLTA ⓘ
hasBeneficiaryType alternative dispute resolution programs for low-income clients ⓘ
court-based self-help programs ⓘ
nonprofit legal aid organizations ⓘ
hasLegalBasisIn state statutes ⓘ
state supreme court rules ⓘ
hasPurpose support civil legal aid ⓘ
support justice-related services ⓘ
isAdministeredBy legal services trust fund programs ⓘ
state bar foundations ⓘ
isImplementedAt state level in the United States ⓘ
isInfluencedBy attorney trust accounting rules ⓘ
banking regulations ⓘ
prevailing interest rates ⓘ
isPartOf state-level access to justice initiatives ⓘ
isRelatedTo Interest on Trust Accounts programs ⓘ
access to justice ⓘ
client trust accounts ⓘ
lawyer trust accounting ⓘ
legal aid funding ⓘ
operatesInSector civil justice ⓘ
legal services ⓘ
prohibits lawyers retaining interest earned on pooled client trust funds ⓘ
requires deposit of eligible client funds into interest-bearing trust accounts ⓘ
servesPopulation low-income individuals ⓘ
supportsActivity legal aid for consumer and benefits issues ⓘ
legal aid for disability and elder law issues ⓘ
legal aid for domestic violence survivors ⓘ
legal aid for family law matters ⓘ
legal aid for housing matters ⓘ
provision of free or low-cost legal services ⓘ
usesFundingSource interest from client trust accounts ⓘ

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

State Bar of California → oversees → Interest on Lawyers’ Trust Accounts program ⓘ
Judiciary Law → governs → IOLA (Interest on Lawyer Account) fund in New York State ⓘ
linked to: Interest on Lawyers’ Trust Accounts program