Where can I find information about setting up and maintaining escrow accounts?
Take a look at the Association’s pamphlet entitled “Other People’s Money,” which provides an overview of your obligations. Copies of this pamphlet are available in the Small Law Firm Center. Disciplinary Rule 9-102 of the Lawyer’s Code of Professional Responsibility, 22 NYCRR 1200.46, referred to in our pamphlet, outlines your responsibilities (you can download a copy of the entire Code by going on to the N.Y. State Bar Association’s website www.nysba.org, clicking the “Attorney Resources” tab and clicking on link for the Code). Additionally, the IOLA Fund website has a FAQ section about accounts (http://www.iola.org/faq.shtml) and you can download enrollment forms. Both the Association’s Committee on Professional and Judicial Ethics Formal Opinions and the N.Y. State Bar Association’s Ethics Opinions have provided advice on the subject (these Opinions are available at ((www.nycbar.org)) and www.nysba.org respectively).
Related Questions
- Are escrow accounts covered under the TLGP? What is the amount of coverage on the title companys account at the bank if a depository institution opts out?
- What are escrow or impound accounts and how much do I need in my escrow account?
- Where can I find information about setting up and maintaining escrow accounts?
