IN RE: AMENDMENT OF RULE 1.15 OF THE PENNSYLVANIA RULES OF PROFESSIONAL CONDUCT
NOW, this 30th day of April, 2018, upon
the recommendation of the Pennsylvania Interest on Lawyers
Trust Account Board; the proposal having been submitted for
public comment in the Pennsylvania Bulletin, 47 Pa.B. 1122
(February 25, 2017) and 47 Pa.B. 2181 (April 15, 2017):
Ordered pursuant to Article V, Section 10 of the Constitution
of Pennsylvania that Rule 1.15 of the Pennsylvania Rules of
Professional Conduct is amended in the attached form.
Order shall be processed in accordance with Pa.R.J.A. No.
103(b), and the amendments herein shall be effective in 60
are shown in bold and are underlined.
204-JUDICIAL SYSTEM GENERAL PROVISIONS
V. PROFESSIONAL ETHICS AND CONDUCT
204 PA. CODE CH. 81 ] Subchapter A. RULES OF PROFESSIONAL
CONDUCT Rule 1.15. Safekeeping Property.
Unclaimed or Unidentifiable IOLTA Funds
a lawyer or law firm cannot, using reasonable efforts for a
minimum of two (2) years, identify or locate the owner of
funds in either its Pennsylvania IOLTA account or the
Pennsylvania IOLTA account of a deceased lawyer whose estate
is represented by the lawyer or law firm, it shall pay the
funds to the Pennsylvania IOLTA Board. At the time such funds
are remitted, the lawyer or law firm shall submit to the
IOLTA Board the name and last known address of each person
appearing from the lawyer's or law firm's records to
be entitled to the funds, and the amount of unclaimed funds
to which each owner is entitled, if known; the amount of any
unidentifiable funds; and a description of the efforts
undertaken to identify and locate the owner(s).
after making a payment of unclaimed or unidentifiable funds
to the Pennsylvania IOLTA Board, the lawyer or law firm
identifies and locates the owner of funds paid, the IOLTA
Board shall refund the sum to the lawyer or law firm. The
lawyer or law firm shall submit to the IOLTA Board a
verification attesting that the funds have been returned to
the owner. The IOLTA Board shall review claims submitted by
purported owners of funds when the lawyer or law firm that
originally remitted ...