in a 5-4 decision, the justices rejected a property rights challenge to state IOLTA programs-the second-largest source of funds for legal services for the poor. Interest on lawyers' trust accounts programs, authorized by statute, require lawyers to pool client funds, which are incapable of earning net interest on their own, in IOLTA accounts. Brown v. Legal Foundation of Washington, No. 01-1325. The programs generate approximately $160 million a year for legal services.
August 04, 2003 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
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