Frequently Asked Questions About Implementing the New IOLTA Rule

The West Virginia Bankers Association, the Community Bankers of West Virginia and the West Virginia State Bar have been working collaboratively to address questions created by the implementation of new State Bar Administrative Rule 10 related to the set up and administration of IOLTA accounts.  All three organizations are aware that the new Rule creates some confusions which may have to be addressed on an individual basis.  In the meantime, it is hoped that the attached set of Questions and Answers will answer many of your questions.  If not, please put your question in writing, to the attention of the IOLTA Advisory Committee, in care of Anita Casey, at caseya@wvbar.org, and the question will be addressed at the IOLTA Advisory Committee’s next meeting.  Thank you for your patience and understanding in working through these changes to the Rule.

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