D.C. R. Prof'l. Cond. 1.15
Rule 1. 15(a) and 1.15(b) were amended to require all D.C. Bar members who possess Interest on Lawyers Trust Account (IOLTA) eligible funds to maintain such funds in a pooled-client D.C. IOLTA account, unless the lawyer falls within certain limited exceptions found in Rule 1.15(b). Rule 1.15(b) defines IOLTA eligible funds. Comments [2] through [5] were added to Rule 1.15 to provide further guidance on the amendments and its narrow exceptions. (8/1/2010)
New Comment [2] of Rule 1.15 was adopted to provide more detailed guidance to lawyers on financial record keeping for trust accounts. The guidance on financial record keeping was revised to (1) reflect the purpose of the "complete records" language of Rule 1.15 as interpreted and explained by the D.C. Court of Appeals in In re Clower, 831 A.2d 1030 (D.C. 2003); and (2) encourage lawyers to consult the 2010 ABA Model Rules on Client Trust Records. (10/8/15)
D.C. R. Prof'l. Cond. 1.15