The U.S. Supreme Court on Wednesday rescued IOLTA programs from a vigorous constitutional attack, ruling 5-4 that states may pool clients' escrow funds in bank accounts and give the interest to legal aid programs. Justice John Paul Stevens wrote that the Court assumed the IOLTA programs amount to a taking, albeit a minimal one, but that they are used for a valid public purpose.
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Victory for IOLTA Programs at Supreme Court
ALM
March 27, 2003
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