Ill. Sup. Ct. R. 1.15C
Comment
[1] Rule 1.15C provides definitions that pertain specifically to Rule 1, 15, Rule 1.15A, and Rule 1.15B. Paragraph (a) defines expansively the meaning of "funds," to include any form of money, including electronic funds. Paragraphs (b) and (c) define an IOLTA account and a non-IOLTA client trust account, respectively. Paragraph (d) defines an eligible financial institution for purposes of the overdraft notification and IOLTA programs. Paragraph (e) defines "promptly payable." a term used in the overdraft notification provisions in Rule L15B(e). Paragraphs (f) through (i) define terms pertaining to IOLTA accounts. Paragraph (j) defines "unidentified funds" as that term is used in Rule 1.15B(d).