New IOLTA Rules Announced

On November 21, 2005, the Supreme Court adopted an extensive set of revisions to the rules of the Pennsylvania Interest on Lawyer Trust Accounts (IOLTA) program. The changes take into account several developments including the revision of Rule 1.15 of the Pennsylvania Rules of Disciplinary Enforcement and recent Supreme Court rulings.

The full text of the new rules is posted here, and the order adopting them is posted here. The changes are effective immediately.