IOLTA Staff and Board Area

The Maryland Court of Appeals adopted an IOLTA Comparability Rule on December 3, 2007, requiring IOLTA deposits to be held in Maryland financial institutions that agree to pay comparable rates of interest on IOLTA as is paid to similarly-situated non-IOLTA customers. MLSC will be working closely with the Maryland Banker's Association and Maryland financial institutions to ensure successful implementation of this new Rule, which has an effective date of April 1, 2008.

See the recent article from The Daily Record and a copy of the Rule.