LEO: Client Funds - IOTA Accounts  LE Op. 919


Client Funds - IOTA Accounts.


June 11, 1987


It is proper for an attorney to deposit a client's funds in an IOTA

account absent written consent from the client following full disclosure.

Disciplinary Rule 9-102 [ DR:9-102] allows attorneys to deposit nominal

short-term funds in a commingled interest-bearing account.


It is not proper for an attorney to participate in an IOTA account,

absent disclosure and permission of the client, should the attorney have

such funds as might draw appreciable interest or should such funds not be

subject to disbursement for a protracted period of time which might result

in appreciable interest. [ DR:9-102]


Committee Opinion June 11, 1987