The IOLTA program: the invisible hand
Article Abstract:
IOLTA was established in Florida and involves the temporary pooling of client trust accounts that are short term or nominal in nature to provide legal services to the poor. This program is the subject of litigation filed by the Washington Legal Foundation. It is contended that the program involves the taking of the beneficial use and equitable interest in the principal and violates the constitution. The dismissal of the suit does not end the controversy in view of the technological innovations which challenge the arguments favorable to IOLTA.
Publication Name: Regulation
Subject: Law
ISSN: 0147-0590
Year: 1992
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ABA: arrogance and sanctimony
Article Abstract:
Observers criticize the American Bar Association's (ABA) Interest on Lawyers Trust Accounts (IOLTA) program. Under IOLTA, interest earned from clients' deposits to lawyers' services are taken by ABA allegedly for charitable purposes. Opponents argue that such interest-taking is unconstitutional and infringes on clients' prerogatives under the First Amendment. They added that relinquishing of said interest to IOLTA cannot be deemed voluntary on the part of the clients who have no knowledge of the fact themselves.
Publication Name: Regulation
Subject: Law
ISSN: 0147-0590
Year: 1997
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The class action con game
Article Abstract:
Observers claim that a change in the 1966 Federal Rules of Civil Procedure is imperative especially for lawyers handling class action suits. Congress' expanding of lawyers' ability to prosecute class action lawsuits allegedly encourages abuse from lawyers. In most cases, members in a class suit are intentionally not informed of the many tenets of the process leaving room for lawyers to work for the resolution of the case to their advantage.
Publication Name: Regulation
Subject: Law
ISSN: 0147-0590
Year: 1997
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