The Pennsylvania IOLTA program, first established in 1988 as a voluntary means to raise money to provide civil legal services to the poor and disadvantaged of Pennsylvania, became mandatory in July 1996.  How the program works:  Small or short-term funds that clients ask attorneys to hold for a relatively short period of time are deposited into special, interest-bearing IOLTA accounts at financial institutions which have been approved by the Supreme Court.  On a quarterly basis, the financial institutions transfer the interest from these accounts to the Pennsylvania Interest on Lawyers Trust Account Board, which administers the program.  The Board, upon approval from the Supreme Court, then distributes the funds to non-profit organizations, laws school-administered clinics and administration of justice projects that provide civil legal services free of charge to the poor and disadvantaged.

The information contained in this article should not be construed as legal advice, is not a substitute for legal counsel, and should not be relied on as such. For legal advice or answers to specific questions, please contact one of our attorneys.