NASHVILLE, Nov. 25, 2008 — The lawyer’s program that provides funding for legal services for the poor by drawing interest on idle client trust funds would get a significant boost under a proposal filed Monday with the Tennessee Supreme Court. The proposal, made jointly by the Tennessee Bar Foundation, which administers the program; the Tennessee Bar Association, representing 10,000 Tennessee lawyers; the Tennessee Association for Justice; and the Tennessee Alliance for Legal Services asks the court to require lawyers to participate in the Interest on Lawyer’s Trust Accounts (IOLTA) Program by placing client funds that cannot earn interest, because they are either too small or expected to be held for a short duration, in accounts that pay interest to the foundation.
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