Interest generated from Interest On Lawyers Trust Account (IOLTA) is collected by the Nevada Law Foundation as mandated by the Supreme Court of Nevada. The funds are then distributed in a competitive grant process among nonprofit organizations which support programs that extend civil legal aid and legal information to people in Nevada whose access to justice is limited.
Supreme Court Rule 217 states that attorneys must follow specific requirements regarding where they place their Interest on Lawyers Trust Accounts (IOLTA). Attorneys must place their IOLTAs in financial institutions that meet the requirements set forth in sections 1,2,4, and 5 of Rule 217 (attached PDF). State Bar members must report the financial institutions in which they hold their IOLTAs on their 2011 annual membership fee statements.
A list of financial institutions that meet the requirements set forth in Rule 217 is posted on the State Bar of Nevada’s website and is updated on the last day of every month.
To enroll in the “Interest on Lawyers Trust Account (IOLTA) Program” established by the Supreme Court of Nevada:
- To view, print or download:
IOLTA_enrollment_form.pdf (339.4 KiB, 0 hits)
- Download and return by mail or fax to your IOLTA Financial Institution