Summary of amendments
Rules Governing the Utah State Bar
USB 14-1001. IOLTA. Amend. Clarifies the formula for determining whether the net income from investing client funds exceeds the cost of doing so. Directs the Utah Bar Foundation to determine whether an institution is eligible for deposits. Establishes the criteria to be an eligible institution. Restricts deposits to eligible institutions and defines the types of accounts permitted. Establishes sanctions and procedures if a lawyer fails to report annually.
How to view redline text of the approved amendments
To see the text and effective date of the amendments, click on this link to: http://www.utcourts.gov/resources/rules/approved/ and then click on the rule number. All amendments are effective April 1, 2008, unless otherwise indicated. Updated versions of the rules will be posed to the main rules web page (http://www.utcourts.gov/resources/rules/) on or about the effective date of the amendments.