Article IV - Powers

As amended through October 1, 2024
Article IV - Powers

The foregoing statement of corporate purposes should be construed as a statement of both purposes and powers, and not as restricting or limiting in any way the general powers of this corporation, or their exercise and enjoyment as they are expressly or impliedly granted by the laws of the State of Missouri. Specifically, the corporation shall have the following additional powers:

1. To manage and administer the Missouri Lawyer Trust Account Program established pursuant to Rule 1.15 of Rule 4, Rules of Professional Conduct, as approved by the Supreme Court of Missouri.
2. To receive all funds generated by the Missouri Lawyer Trust Account Program as well as gifts, grants and contributions from all sources.
3. To invest and reinvest the assets of the corporation and to retain appropriate professional services.
4. To distribute assets and earnings for the purposes set forth in Article III above either by grants to other qualified organizations or by direct funding of programs approved or instituted by the corporation.
5. To authorize capital expenditures, accumulations or reserves, only as may be reasonably necessary to carry out the purposes of the corporation in administering the Missouri Lawyer Trust Account Program.