Examples of Client Trust Account in a sentence
Client agrees that Attorney’s right to recover fees and costs from the Deposit or any subsequent deposit held in Attorney’s Client Trust Account becomes fixed ____ [PROVIDE NUMBER] days after the date a bill is sent to Client.
As disclosed in our DIRRI dated 25 August 2021, we received an upfront payment of $100,000 from the Company’s Director Mr Andrew Micos into our Client Trust Account on 22 August 2021.
According to the ABA Standing Committee on Client Protection, the ABA Model Rules for Client Trust Account Records responds to a number of changes in banking and business practices that may have left lawyers ‘‘inadvertently running afoul of their jurisdiction’s rules of professional conduct.’’ The new rule addresses recordkeeping requirements after electronic transfers and clarifies who can authorize such transfers.
No client may elect whether his/her funds should be deposited in an IOLTA Trust Account, receive interest or dividends earned on funds in an IOLTA Trust Account, or compel a lawyer/firm to invest funds that are nominal in amount or to be held for a short period of time in a Client Trust Account.
Every Trust Account shall bear the name of the lawyer/firm and be clearly designated as either an IOLTA Trust Account or a Client Trust Account established under this Rule.
In the event there is any money from any deposit remaining in Attorney’s Client Trust Account after Attorney’s final bill is satisfied, that money will be promptly refunded to Client.
If the bank’s policy is not to denote such a designation on the signature card or account application, the applicant must provide the Department with a signed letter from the financial institution (on their letterhead) that identifies the account number, account name or title, and states that the financial institution acknowledges that the account is a Trust Account or an Escrow Account or a Client Escrow Account or a Client Trust Account or Statutory Trust Account or Statutory Escrow Account.
Client Trust Account") may be subject to levies and other legal process against your property unless the Bank's records clearly reflect the existence of an express written trust or court order.
The Commission’s The Client Trust Account Handbook, was republished in January 2010, with new Rule 1.15 and the amendment to the rule dealing with advanced fees.
This means it holds clients' money separately from the firm's money in a designated Client Trust Account in an EU regulated credit institution.