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 IOLTA
WHAT IT
IS
IOLTA (Interest on Lawyers Trust Accounts) is a law-related public
service program that strengthens our justice system. IOLTA programs
operate throughout the United States and Canada. They generate funds
that are used to support legal aid, legal education for the public,
and other activities that improve the quality of justice.
HOW IT
WORKS
The Montana Rules of Professional Conduct require attorneys to place
client funds into trust accounts separate from the attorney’s or law
firm’s own money. Funds that are either nominal in amount or those
held for too short a period of time to generate any meaningful
interest for the client are placed into pooled, interest-bearing
trust accounts. The interest generated by
these IOLTA accounts is
then collected by the Montana Justice Foundation and distributed
 in
a competitive grant process among qualified non-profit organizations
committed to achieving access to justice for all Montanans.
The Montana IOLTA program was established by Supreme Court rule in
1986 as an opt-out program. Mandatory participation in the program
was instituted in 1996 under
Rule 1.18 of the Montana Rules of
Professional Conduct.
IOLTA Participation Form
Attorney Compliance Policy &
Procedure
LEADERSHIP BANKS
These
institutions pay a net yield of 1.5 percent or more and waive all
service fees and charges on IOLTA accounts. They are committed to
ensuring the success of the IOLTA program and increased funding for
legal aid for the poor.
 
Bitterroot Valley Bank
Community Bank of Missoula
Mountain West Bank
Yellowstone Bank
HONORABLE MENTION
These institutions pay a net yield of 1.0 – 1.49 percent and
waive all service fees and charges on IOLTA accounts.
Bank of Bozeman
Valley Bank
ELIGIBLE INSTITUTIONS
Eligible financial institutions meet the standards of the
eligibility requirement as defined by Rule 1.18 and currently
participate the IOLTA program. These institutions pay interest rates
below 1.0 percent and may charge service fees on IOLTA accounts.
Click
here to see the complete list of Eligible
Institutions.
ADDITIONAL INFORMATION
Information for Attorneys
Information for Banks
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IOLTA
