What is an IOLTA?

IOLTA means: Interest on Lawyer's Trust Account.

In Maryland, the Maryland Legal Services Corporation of the Maryland State Bar Association has posted a LIST OF APPROVED MARYLAND IOLTA FINANCIAL INSTITUTIONS.

According to Maryland Rule 16-610, effective April 1, 2008, all Maryland financial institutions offering IOLTA must pay interest rates on Attorney IOLTA that are comparable to rates paid on similarly situated non-IOLTA accounts (Maryland Rules of Procedure 16-610).

The List is updated frequently.