HB 1970 Interest on client accounts.
Glenn R. Croshaw | all patrons    ...    notes
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Summary:
Interest on client accounts. Voids the current Supreme Court rule on IOLTA (interest on lawyers' trust accounts). The bill prohibits the court from requiring attorneys to place client funds in interest-bearing accounts in which the interest is paid otherwise than to the client. The bill further provides that if interest is paid on lawyers' client accounts which are voluntarily pooled, such interest is to be paid at least quarterly to the Legal Services Corporation of Virginia.

Full text:
01/20/95  House: Presented & ordered printed LD8573180  pdf
01/31/95  House: Committee substitute printed LD1580180-H1  pdf
02/13/95  House: Bill text as passed House and Senate (HB1970ER)  pdf
03/10/95  Governor: Acts of Assembly Chapter text (CHAP0093)  pdf

Status:
01/20/95  House: Presented & ordered printed LD8573180
01/20/95  House: Referred to Committee on Corporations, Insurance and Banking
01/31/95  House: Reported from C. I. B. w/sub. (22-Y 0-N)
01/31/95  House: Committee substitute printed LD1580180-H1
02/01/95  House: Read first time
02/02/95  House: Read second time
02/02/95  House: Committee substitute agreed to LD1580180-H1
02/02/95  House: Engrossed by House - com. sub. LD1580180-H1
02/03/95  House: Read third time and passed House (Block Vote) (100-Y 0-N)
02/03/95  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
02/03/95  House: Communicated to Senate
02/06/95  Senate: Read first time
02/06/95  Senate: Referred to Committee for Courts of Justice
02/08/95  Senate: Reported from Courts of Justice (14-Y 0-N)
02/09/95  Senate: Constitutional reading dispensed (39-Y 0-N)
02/09/95  Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
02/10/95  Senate: Read third time
02/10/95  Senate: Passed Senate (40-Y 0-N)
02/10/95  Senate: VOTE: PASSAGE (40-Y 0-N)
02/13/95  House: Bill text as passed House and Senate (HB1970ER)
02/20/95  House: Enrolled
02/20/95  House: Signed by Speaker
02/21/95  Senate: Signed by President
03/07/95  Governor: Approved by Governor-Chapter 93 (effective 7/1/95)
03/10/95  Governor: Acts of Assembly Chapter text (CHAP0093)