LEO: Clients' Funds - Interest LE Op. 831
Clients' Funds - Interest.
October 8, 1986
It is improper for a law firm to place funds in an interest-bearing
account which will result in the firm receiving an automatic
administrative fee equal to 15 percent of the funds, even though the
interest earned by the funds will be credited against the administrative
overhead fee charged by the firm to its clients. [ DR:9-102(D); LE Op.
710, LE Op. 392, LE Op. 315 and LE Op. 280]
Committee Opinion October 8, 1986
For this opinion being reaffirmed, see LE Op. 1024. See also LE Op.