LEO: Trust Accounts Accounting by Attorney LE Op. 356

 

Trust Accounts Accounting by Attorney Out-of-State Office.

 

March 10, 1980

 

An attorney who was custodian of a petty cash account consisting of funds furnished the attorney by his client-employer, who furnished receipts for expenditures from the cash account to officers of the client-employer, was not ethically required to render a subsequent accounting of expenditures, with receipts and substantiating documentation, upon terminating of the attorney-client relationship. [See II: DR:9-102(B)(3).] Furthermore, the Rules of the Supreme Court of Virginia do not require an attorney admitted to practice in Virginia by examination to maintain an office in Virginia. [But see Title 58, Section 371, Code of Virginia, which requires an attorney to acquire a Virginia revenue license.]

 

Committee Opinion March 10, 1980

 

LEO: Trust Accounts - Accounting by Attorney, LE Op. 356 (1980)