Compliance Update

Trustpak now has specific compliance with All States of Australia, New Zealand, South Africa, UK
& USA - The State Bars of New York, New Jersey, Maryland, Florida, Connecticut & Pennsylvania.
Canada Compliance coming soon!

Trustpak - Australia Compliance Matrix

Please Note: The following information is a guide to show what rules and sub rules of the Trust Account Regulations Trustpak complies with, some of the items are dependent on the User and this is stated as "User Responsible"



SOURCE: New South Wales Consolidated Regulations - LEGAL PROFESSION UNIFORM GENERAL RULES 2015
CHAPTER: 4 - BUSINESS PRACTICE AND PROFESSIONAL CONDUCT

Date Checked: 1st Oct 2016

NOTE: This information is NOT to be used as a reference to Government Trust Account Regulations it is meant only as a guide to show you which part of the regulations Trustpak is compliant with, we cannot guarantee the accuracy of this information beyond the "Date Checked" however we will do our best to keep this matrix up to date. Please note it is the responsibility of each user to make sure they are compliant with the regulations. The information provided here is intended to help with that process.
NOTE: Incorrect installations and modifications to installations may effect Trustpak's compliance with these regulations.

Note: In New South Wales and Victoria, lawyers and law practices are subject to the same framework of Legal Profession Uniform Rules made by the Legal Services Council.

DISCLAIMER: This information is provided with the understanding that the laws governing trust accounting, legal ethics and professional responsibility are always changing. This information is not a substitute for legal advice and may not be suitable in a particular situation. You must make your own judgement on the actual compliance of Trustpak. Infobiz Solutions Pty Ltd, their employees and their representatives, and the author shall not be liable for any damages resulting from any error, inaccuracy, or omission.

Rule
Sub Rule
Description
Compliance
Notes




Division 2 - Trust money and trust accounts


35.


Maintenance of general trust account


(1)
- (a)
- (b)

A general trust account established in a jurisdiction
must be established with an authorised ADI, and
must include in its name the name of the law practice or the business name under which the law practice engages in legal practice, and the expression "law practice trust account" or "law practice trust a/c".


User Responsible
User Responsible

36.


Receipting of trust money


(1)
- (a)
- (b)

(2)
- (a)
- (b)
- (c)
- (d)
- (e)
- (f)

- (g)
- (h)

- (i)
(3)


(4)

(5)
(6)
(7)

A law practice must make out a receipt as soon as practicable:
after trust money is received, or
in the case of trust money received by direct deposit, after the law practice receives or accesses notice or confirmation of the deposit from the ADI concerned.
The receipt must contain the following particulars:
the date the receipt is made out and, if different, the date of receipt of the money
the number of the receipt,
the amount of money received,
the form in which the money was received,
the name of the person from whom the money was received
details clearly identifying the name of the client in respect of whom the money was received and the matter description and matter reference,
particulars sufficient to identify the reason for which the money was received,
the name of the law practice or the business name under which the law practice engages in legal practice and the expression "trust account" or "trust a/c"
the name of the person who made out the receipt.
The receipt must be made out in duplicate unless, when the receipt is made out the particulars referred to in subrule (2) are recorded by a computerised accounting system in the trust account receipts cash book.
The receipt must be given, on request, to the person from whom the trust money was received.
Receipts must be consecutively numbered and issued in consecutive sequence.
If a receipt is cancelled, the original receipt must be kept.
This rule does not apply to controlled money.


User Responsible
User Responsible


Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

Trustpak Compliant
Trustpak Compliant

Trustpak Compliant
Trustpak Compliant


Trustpak Compliant

Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
























Trustpak uses holding accounts to deal with controlled money

37.


Deposit records for trust money


(1)


(2)
- (a)
- (b)
- (c)
- (d)
--- (i)
--- (ii)
--- (iii)
(3)
(4)

If a law practice receives trust money that is required to be paid into a general trust account and the money is not paid into a general trust account by direct deposit, a deposit record must be produced to the ADI at the time the deposit is made.
The following particulars must be recorded on the deposit record:
the date of the deposit,
the amount of the deposit,
whether the deposit consists of cheques or cash (and the amount of each),
for each cheque:
the name of the drawer of the cheque, and
the name and branch (or BSB number) of the ADI on which the cheque is drawn, and
the amount of the cheque.
The deposit record must be made out in duplicate.
The duplicate deposit record must be kept for each deposit to the general trust account and must be kept in a deposit book or be otherwise securely filed in the order in which the deposits were made.

Trustpak Compliant



Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

Deposit Slip











Duplicate in database

38.


Computerised accounting systems-copies of trust records


(1)

(2)

- (a)

- (b)
- (c)

- (d)

(3)
- (a)

- (b)

(4)

This rule applies if a law practice maintains trust records by means of a computerised accounting system.
A law practice must maintain and keep, in printed form or in readable and printable form, the following copies of trust records:
a copy of trust account receipts and payments cash books as at the end of each named month,
a copy of reconciliation statements as at the end of each named month,
a copy of lists of trust account ledgers and their balances as at the end of each named month,
a copy of lists of controlled money accounts and their balances as at the end of each named month.
A law practice must:
print a paper copy of trust ledger accounts, the register of controlled money and the trust account transfer journal before they are deleted from the system, and
on request by an investigator appointed under Chapter 7 of the Uniform Law, provide to the investigator a printed copy of trust ledger account and controlled money account details.
The copies of trust records as at the end of a named month under subrule (2) must be prepared within 15 working days after the named month.

-

Trustpak Compliant

Trustpak Compliant

Trustpak Compliant
Trustpak Compliant

Trustpak Compliant


Trustpak Compliant

User Responsible

User Responsible











39.


Computerised accounting systems-chronological record of information to be made


(1)

(2)


- (a)
- (b)
- (c)
- (d)
- (e)

This rule applies if a law practice maintains trust records by means of a computerised accounting system.
A law practice must maintain and keep a record, compiled in chronological sequence, of the creation, amendment or deletion of information in its computerised accounting system in relation to each of the following:
client name,
client address,
matter reference,
matter description,
ledger account number or other descriptor.

-

Trustpak Compliant


Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant











40.


Computerised accounting systems-requirements regarding systems


(1)

(2)
- (a)




- (b)
--- (i)
--- (ii)
- (c)

- (d)

- (e)


- (f)

This rule applies if a law practice maintains trust records by means of a computerised accounting system.
A law practice must ensure that:
its computerised accounting system is not capable of accepting, in respect of a trust ledger account, the entry of a transaction resulting in a debit balance to the account, unless a contemporaneous record of the transaction is made in a manner that enables the production in a permanent form, on demand, of a separate chronological report of all occurrences of that kind, and
the system is not capable of deleting a trust ledger unless:
the balance of the account is zero and all outstanding cheques have been presented, and
when the account is deleted, a copy of the account is kept in a permanent form, and
any entry in a record produced in a permanent form appears in chronological sequence, and
each page of each printed or printable record is numbered sequentially or is printed or printable in such a way that no page can be extracted, and
its computerised accounting system is not capable of amending the particulars of a transaction already recorded otherwise than by a transaction separately recorded that makes the amendment, and
its computerised accounting system requires input in every field of a data entry screen intended to receive information required by these Rules to be included in trust records.

-


Trustpak Compliant




Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

Trustpak Compliant

Trustpak Compliant


Trustpak Compliant














41.


Computerised accounting systems-back-ups


(1)

(2)
- (a)

- (b)
- (c)

This rule applies if a law practice maintains trust records by means of a computerised accounting system.
For the purposes of section 147 of the Uniform Law, a law practice must ensure that:
a back-up copy of all records required under the Uniform Law and these Rules is made at least once each month, and
each back-up copy is kept by the law practice, and
a complete set of back-up copies is kept in a separate location so that any incident that may adversely affect the records would not also affect the back-up copy.




User Responsible

User Responsible
User Responsible







Trustpak allows off-site Backup to Google Drive



42.


Withdrawal of trust money for payment of legal costs

User Responsible


(1)




(2)

(3)

- (a)

- (b)



--- (i)
--- (ii)

- (c)
(4)

- (a)

- (b)
--- (i)
--- (ii)

(5)
- (a)

- (b)
--- (i)
--- (ii)

(6)


- (a)

- (b)

- (c)

(7)
- (a)

--- (i)
--- (ii)


- (b)
--- (i)
--- (ii)


(8)

This rule prescribes, for the purposes of Division 2 of Part 4.2 of the Uniform Law (see section 144 (2) (b) of that Law), the procedure for the withdrawal of trust money held in a general trust account or controlled money account of a law practice for payment of legal costs owing to the law practice by the person for whom the trust money was paid into the account.
The trust money may be withdrawn in accordance with the procedure set out in any applicable subrule of this rule.
The law practice may withdraw the trust money if the law practice has given the person a bill relating to the money and referring to the proposed withdrawal, and:
if the person does not, at the end of the period of 7 business days after the person was given the bill, object to the amount specified in the bill, or
if the person objects to the amount specified in the bill within the period of 7 business days after being given the bill but has not referred the matter to the designated local regulatory authority or for costs assessment, and the period of 30 days after the later of the following dates has expired:
the date on which the person was given the bill,
the date on which the person received an itemised bill following a request made in accordance with section 187 of the Uniform Law, or
if the money otherwise becomes legally payable.
The law practice may withdraw the trust money (whether or not the law practice has given the person a bill relating to the money):
if the money is withdrawn in accordance with instructions that have been received by the law practice and that authorise the withdrawal, and
if, before effecting the withdrawal, the law practice gives or sends to the person:
a request for payment, referring to the proposed withdrawal, or
a written notice of withdrawal.
Note : See also subrule (7), which relates to subrule (4).
The law practice may withdraw the trust money:
if the money is owed to the law practice by way of reimbursement of money already paid by the law practice on behalf of the person, and
if, before effecting the withdrawal, the law practice gives or sends to the person:
a request for payment, referring to the proposed withdrawal, or
a written notice of withdrawal.
Note : See also subrule (8), which relates to subrule (5).
If the law practice has given the person who is a commercial or government client a bill specifying the amount payable by the person for legal costs, the law practice may withdraw the money so long as:
the money is withdrawn in accordance with a costs agreement between the law practice and the person, and
the costs agreement complies with the legislation under which it is made and authorises the withdrawal, and
before effecting the withdrawal, the law practice gives or sends to the person a request for payment, referring to the proposed withdrawal.
In relation to subrule (4):
if the authorisation referred to in subrule (4) (a) authorises withdrawal of part only of the money:
the law practice may withdraw the money to that extent only, and
if the law practice has given the person a bill relating to the money as referred to in subrule (3) (a)-subrule (3) (b) (i) and (ii) are taken to apply to the remaining part of the amount specified in the bill, and
instructions referred to in subrule (4):
if given in writing, must be kept as a permanent record, or
if not given in writing, must be confirmed in writing either before, or not later than 5 working days after, the law practice effects the withdrawal and a copy must be kept as a permanent record.
For the purposes of subrule (5), money is taken to have been paid by the law practice on behalf of the person when the relevant account of the law practice has been debited.
Note : Rule 73 provides for the giving of bills.



















43.


Method of payment


(1)

- (a)

- (b)
- (c)
--- (i)

--- (ii)
(2)

- (a)
- (b)
--- (i)
--- (ii)

--- (iii)
(3)
- (a)


- (b)

(4)
- (a)
- (b)
- (c)


- (d)

- (e)


- (f)
- (g)
(5)

If a withdrawal of trust money from a general trust account of a law practice is made by cheque, the cheque:
must be made payable to or to the order of a specified person or persons and must not be made payable to bearer or to cash, and
must be crossed "not negotiable" and
must include:
the name of the law practice or the business name under which the law practice engages in legal practice, and
the expression "law practice trust account" or "law practice trust a/c".
A cheque must be signed by, or an electronic funds transfer must be effected under, the direction or authority of:
an authorised principal of the law practice, or
if such a principal is not available:
an authorised legal practitioner associate, or
an authorised Australian legal practitioner who holds an Australian practising certificate authorising the receipt of trust money, or
two or more authorised associates jointly.
A written record of the required particulars:
must be kept of each payment made by cheque or electronic funds transfer, unless those particulars are recorded by a computerised accounting system in the trust account payments cash book at the time the cheque is issued or the transfer is effected, and
must be kept in a way that is sufficient to enable the accuracy of the particulars recorded by the computerised accounting system to be verified.
For the purposes of subrule (3), the
the date and number of the cheque or electronic funds transfer,
the amount ordered to be paid by the cheque or electronic funds transfer,
in the case of a cheque, the name of the person to whom the payment is to be made or, if the cheque is made payable to an ADI, the name or BSB number of the ADI and the name of the person receiving the benefit of the payment,
in the case of an electronic funds transfer, the name and number of the account to which the amount was transferred and relevant BSB number,
details clearly identifying the name of the person on whose behalf the payment was made and the matter reference, or in the case of a payment to an ADI, the name or BSB number of the ADI and the name of the person receiving the benefit of the payment,
details clearly identifying the ledger account to be debited,
particulars sufficient to identify the reason for the payment.
Written records relating to payments by cheque or electronic funds transfer (including cheque or transfer requisitions) must be kept in the order in which the cheques or transfers were issued or effected.



User Respomsible



Trustpak Compliant

Trustpak Compliant
User Responsible








Trustpak Compliant


Trustpak Compliant


Trustpak Compliant
Trustpak Compliant
Trustpak Compliant


Trustpak Compliant

Trustpak Compliant


Trustpak Compliant
Trustpak Compliant
Trustpak Compliant











44.


Trust account receipts cash books


(1)


- (a)

- (b)
- (c)
- (d)
- (e)
- (f)

- (g)
- (h)
(2)

(3)

A law practice that maintains a general trust account must keep a trust account receipts cash book in which the following particulars must be recorded in respect of each receipt of trust money:
the date a receipt was made out for the money and, if different, the date of receipt of the money,
the receipt number,
the amount of money received,
the form in which the money was received,
the name of the person from whom the money was received,
details clearly identifying the name of the client in respect of whom the money was received and the matter description and matter reference,
particulars sufficient to identify the reason for which the money was received,
details clearly identifying the ledger account to be credited.
The date and amount of each deposit in the general trust account must be recorded in the trust account receipts cash book.
The particulars in respect of receipts must be recorded in the order in which the receipts are made out and must be recorded within 5 working days of the receipt being made out.




Trustpak Compliant

Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

Trustpak Compliant

















45.


Trust account payments cash book


(1)


- (a)
- (b)
- (c)


- (d)
--- (i)

--- (ii)


- (g)

- (h)
(2)
- (a)
- (b)

A law practice that maintains a general trust account must keep a trust account payments cash book in which the following particulars are recorded in respect of each payment of trust money:
the date and number of the cheque or electronic funds transfer,
the amount ordered to be paid by the cheque or the amount transferred,
in the case of a cheque, the name of the person to whom the payment is to be made or, if the cheque is made payable to an ADI, the name or BSB number of the ADI and the name of the person receiving the benefit of the payment,
in the case of an electronic funds transfer:
the name and number of the account to which the amount was transferred and the relevant BSB number, and
the name of the person to whom the payment was made or, in the case of a payment to an ADI, the name or BSB number of the ADI and the name of the person receiving the benefit of the payment,
details clearly identifying the name of the person on whose behalf the payment was made, the matter description and the appropriate ledger reference,
particulars sufficient to identify the reason for payment.
The particulars in respect of payments must be recorded:
in the order in which the payments are made, and
within 5 working days of the day the payment was made.




Trustpak Compliant
Trustpak Compliant
Trustpak Compliant


Trustpak Compliant
Trustpak Compliant

Trustpak Compliant


Trustpak Compliant

Trustpak Compliant

Trustpak Compliant
Trustpak Compliant

















46.


Journal transfers


(1)



- (a)

--- (i)
--- (ii)

--- (iii)
- (b)
(2)

(3)

- (a)
- (b)


- (c)


- (d)
- (e)
(4)
(5)

Trust money may be transferred by journal entry from one trust ledger account in a law practice's trust ledger to another trust ledger account in the trust ledger, but only if the law practice is entitled to withdraw the money and pay it to the other trust ledger account and:
the transfer is authorised in writing by an authorised principal of the law practice or if such a principal is not available:
an authorised legal practitioner associate of the law practice, or
an authorised Australian legal practitioner who holds an Australian practising certificate authorising the receipt of trust money, or
two or more authorised associates jointly, or
the transfer is authorised in writing by an external intervener for the law practice.
A law practice must keep a trust account transfer journal if it transfers trust money by journal entry.
The following particulars must be recorded in the trust account transfer journal in respect of each transfer of trust money by journal entry:
the date of the transfer,
the trust ledger account from which the money is transferred (including the appropriate ledger reference, the name of the person on whose behalf the transfer was made and the matter description),
the trust ledger account to which the money is transferred (including the appropriate ledger reference, the name of the person on whose behalf the transfer was made and the matter description),
the amount transferred,
particulars sufficient to identify the reason for the transfer.
Journal pages or entries must be consecutively numbered.
A law practice must keep particulars of the authorisation for each transfer of trust money by journal entry, whether in the trust account transfer journal or in some other way.

User Respomsible



User Respomsible

User Respomsible
User Responsible

User Responsible
User Responsible
Trustpak Compliant



Trustpak Compliant
Trustpak Compliant


Trustpak Compliant


Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant











47.


Recording transactions in trust ledger accounts



(1)


(2)

- (a)
- (b)
- (c)

(3)

- (a)
- (b)
- (c)
- (d)
- (e)
--- (i)

--- (ii)


--- (iii)

--- (iv)

(4)
- (a)
- (b)

(5)

A law practice that maintains a general trust account must keep a trust account ledger containing separate trust ledger accounts in relation to each person in each matter for which trust money has been received by the practice.
The following particulars must be recorded, and kept up to date, in the title of a trust ledger account:
the name of the person for or on behalf of whom the trust money was paid,
the person's address,
particulars sufficient to identify the matter in relation to which the trust money was received.
The following particulars must be recorded for each transaction in the trust ledger account:
the date of the transaction,
the appropriate reference number and transaction type,
particulars sufficient to identify the reason for the transaction,
the amount of money in the transaction,
if the transaction type is:
a receipt-the provider of the amount and the date the amount was received if that date is different from the date of receipt,
a payment by cheque-the payee or, in the case of a cheque made payable to an ADI, the name or BSB number of the ADI and the name of the person receiving the benefit of the payment,
a payment by electronic funds transfer-the account name and number and the relevant BSB number of the ADI and the name of the person receiving the benefit of the payment,
a journal entry-the appropriate ledger reference, the name of the person on whose behalf the transfer was made and the matter description.
Transactions relating to trust money must be recorded in the trust ledger account:
in the order in which the transactions occur, and
within 5 working days of the day the receipt was made out, the payment was made or the transfer was effected, as the case requires.
The trust ledger account balance is to be recorded in the trust ledger account after each receipt, payment or transfer of trust money.






Trustpak Compliant
Trustpak Compliant
Trustpak Compliant



Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

Trustpak Compliant

Trustpak Compliant


Trustpak Compliant

Trustpak Compliant


User Responsible
User Responsible

Trustpak Compliant











48.


Reconciliation of trust records



(1)

(2)

- (a)
--- (i)

--- (ii)
- (b)
--- (i)

--- (ii)


--- (iii)
(3)

(4)

A law practice that maintains one or more general trust accounts must reconcile the trust records relating to each account.
The trust records relating to a general trust account are to be reconciled as at the end of each named month by preparing:
a statement:
reconciling the general trust account balance as shown in ADI records with the balance of the practice's trust account cash books, and
showing the date the statement was prepared, and
a statement:
reconciling the balance of the trust ledger accounts with the balance of the practice's trust account cash books, and
containing a list of the practice's trust ledger accounts showing the name, identifying reference and balance of each and a short description of the matter to which each relates, and
showing the date the statement was prepared.
The statements must be prepared within 15 working days after the end of the month concerned.
The statements must be kept by the law practice.






Trustpak Compliant

Trustpak Compliant

Trustpak Compliant

Trustpak Compliant
Trustpak Compliant

Trustpak Compliant
User Responsible

Trustpak Compliant


















Trustpak saves a copy of the reconciliation

49.


Trust ledger account in name of law practice or legal practitioner associate



(1)

(2)
- (a)


- (b)


(3)



(4)

A law practice must not maintain a trust ledger account in the name of the practice or a legal practitioner associate of the practice except as authorised by this rule.
A law practice may maintain in its trust ledger:
a trust ledger account in the practice’s name, but only for the purpose of aggregating in the account, by transfer from other accounts in the trust ledger, money properly due to the practice for legal costs, and
a trust ledger account in a legal practitioner associate’s name, but only in respect of money in which the associate has a personal and beneficial interest as a vendor, purchaser, lessor or lessee or in another similar capacity.
In a case to which subrule (2) (a) applies, the law practice must ensure that the money in the trust ledger account is withdrawn from the general trust account not later than one month after the day on which the money was transferred to the trust ledger account.
In a case to which subrule (2) (b) applies, the law practice must ensure that the money in the trust ledger account is withdrawn from the general trust account at the conclusion of the matter to which the money relates.




Trustpak Compliant


Trustpak Compliant


User Responsible



Trustpak Compliant












50.


Notification requirements regarding general trust accounts

User Responsible

All sub rules are user responsible

51.


Law practice closing down, closing office or ceasing to receive or hold trust money

User Responsible

All sub rules are user responsible

52.


Trust account statements



(1)


(2)
- (a)
- (b)
- (c)

(3)
- (a)

- (b)
(4)
- (a)

- (b)


- (c)
(5)


- (a)

- (b)


(6)



- (a)
- (b)

A law practice must give a trust account statement to each person for whom or on whose behalf trust money (other than transit money and written direction money) is held or controlled by the law practice or an associate of the practice.
Where relevant, the law practice must give the person a separate statement for:
each trust ledger account, and
each record of controlled money movements, and
each record of dealings with the money that is the subject of a power to which the law practice or an associate of the law practice is a party.
A trust account statement is to contain particulars of:
all the information required to be kept under the Uniform Law or these Rules in relation to the trust money included in the relevant ledger account or record, and
the remaining balance (if any) of the money.
A trust account statement is to be given:
as soon as practicable after completion of the matter to which the ledger account or record relates, and
as soon as practicable after the person for whom or on whose behalf the money is held or controlled makes a reasonable request for the statement during the course of the matter, and
except as provided by subrule (5) or (6), as soon as practicable after 30 June in each year.
The law practice is not required to give a trust account statement under subrule (4) (c) in respect of a ledger account or record if at 30 June the balance of the ledger account or record is zero and:
no transaction affecting the ledger account or record has taken place within the previous 12 months, or
a trust account statement has been furnished within the previous 12 months and no transaction affecting the ledger account or record has taken place since the last statement was furnished.
Without limiting subrule (5), the law practice is not required to give a trust account statement under subrule (4) (c) in respect of a ledger account or record kept in a jurisdiction if at 30 June immediately before the commencement day for that jurisdiction:
the ledger account or record has been open for less than 6 months, or
a trust account statement has been furnished within the previous 12 months and there has been no subsequent transaction affecting the ledger account or record,
but this subrule expires immediately before the first anniversary of that commencement day.
The law practice must keep a copy of a trust account statement given under this rule.





Trustpak Compliant
Trustpak Compliant
Trustpak Compliant


Trustpak Compliant

Trustpak Compliant

User Responsible

User Responsible


User Responsible



User Responsible

User Responsible






User Responsible
User Responsible



User Responsible












53.


Trust account statements for commercial or government clients

User Responsible

All sub rules are user responsible

54.


Statements regarding receipt or holding of trust money

User Responsible

All sub rules are user responsible

55.


Trust money subject to specific powers

User Responsible

All sub rules are user responsible

56.


Authority to receive trust money

User Responsible

All sub rules are user responsible

57.


Disclosure of accounts used to hold money

User Responsible

All sub rules are user responsible

58.


When, how and where money is received

User Responsible

All sub rules are user responsible

59.


Register of investments



(1)


- (a)
- (b)
- (c)
- (d)
- (e)
- (f)
- (g)
- (h)
- (i)
- (j)
(2)

If a law practice invests trust money for or on behalf of a client, the law practice must maintain a register of investments of trust money that records the following information in relation to each investment:
the name in which the investment is held,
the name of the person on whose behalf the investment is made,
the person's address,
particulars sufficient to identify the investment,
the amount invested,
the date the investment was made,
particulars sufficient to identify the source of the investment,
details of any documents evidencing the investment,
details of any interest received from the investment or credited directly to the investment,
details of the repayment of the investment and any interest, on maturity or otherwise.
This rule does not require particulars to be recorded in the register if the particulars are required to be recorded elsewhere by another rule.




Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant












60.


Register of powers and estates in relation to trust money

User Responsible

All sub rules are user responsible

Rule
Sub Rule
Description
Compliance
Notes




Division 3 - Controlled money


61.


Maintenance of controlled money account



(1)

- (a)
- (b)
- (c)

A controlled money account must be maintained under an account name that includes the following particulars:
the name of the law practice concerned,
the expression "controlled money account" or the abbreviation "CMA" or "CMA/c",
particulars that are sufficient to identify the purpose of the account and to distinguish the account from any other account maintained by the law practice.



Trustpak Compliant
Trustpak Compliant
Trustpak Compliant





62.


Receipt of controlled money



(1)


(2)


(3)

(4)


- (a)
- (b)
- (c)
- (d)
- (e)

- (f)
- (g)

- (h)
- (i)
- (j)
(2)

If a law practice receives controlled money, it must operate a single controlled money receipt system for the receipt of controlled money for all its controlled money accounts.
A law practice must make out a receipt as soon as possible after receiving controlled money or, in relation to a direct deposit, after receiving notice or confirmation of the deposit from the relevant ADI.
On request from the person from whom controlled money is received, the law practice must give that person a copy of the receipt.
The receipt must be made out in duplicate, unless at the time the receipt is made out those particulars are recorded by a computerised accounting system in the register of controlled money, and must contain the following particulars:
the date the receipt is made out and, if different, the date of receipt of the money
the amount of money received,
the form in which the money was received,
the name of the person from whom the money was received
details clearly identifying the name of the client in respect of whom the money was received and the matter description and matter reference,
particulars sufficient to identify the reason for which the money was received,
the name of the law practice, or the business name under which the law practice engages in legal practice, and the expression "controlled money receipt",
the name of the person who made out the receipt.
the number of the receipt,
This rule does not require particulars to be recorded in the register if the particulars are required to be recorded elsewhere by another rule.

Trustpak Compliant


User Responsible


User Responsible

Trustpak Compliant


Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

Trustpak Compliant
Trustpak Compliant

Trustpak Compliant
Trustpak Compliant












63.


Withdrawal of controlled money from controlled money account



(1)


(2)

- (a)
- (b)
--- (i)

--- (ii)


--- (iii)
(3)
(4)



(5)
- (a)
- (b)
- (c)


- (d)

- (e)

- (f)
- (g)
(6)

Despite any directions to the contrary, a law practice must not withdraw controlled money from a controlled money account otherwise than by cheque or electronic funds transfer.
A withdrawal of money from a controlled money account of a law practice must be effected by, under the direction of or with the authority of:
an authorised principal of the law practice, or
if such a principal is not available:
a legal practitioner associate authorised by the law practice to effect, direct or give authority for this purpose, or
an Australian legal practitioner who holds an Australian practising certificate authorising the receipt of trust money and who is authorised by the law practice to effect, direct or give authority for this purpose, or
two or more associates of the law practice jointly.
A written record of the required particulars must be kept of each withdrawal.
If, at the time the withdrawal is made, the required particulars are recorded by a computerised accounting system, a written record must be kept that is sufficient to enable the accuracy of the particulars recorded by the computerised accounting system to be verified.
For the purposes of this rule, the "required particulars" are as follows:
the date and number of the transaction,
the amount withdrawn,
in the case of a withdrawal by cheque, the name of the person to whom payment is to be made or, if the cheque is made payable to an ADI, the name or BSB number of the ADI and the name of the person receiving the benefit of the payment,
in the case of a withdrawal by electronic funds transfer, the name and number of the account to which the amount was transferred and the relevant BSB number,
details clearly identifying the name of the person on whose behalf the payment was made and the matter reference,
particulars sufficient to identify the reason for which the payment was made,
the person or persons effecting, directing or authorising the withdrawal.
The particulars are to be recorded in the order in which the withdrawals are made and are to be recorded separately for each controlled money account.

Trustpak Compliant


User Responsible

User Responsible

User Responsible

User Responsible


User Responsible
Trustpak Compliant
Trustpak Compliant




Trustpak Compliant
Trustpak Compliant
Trustpak Compliant


Trustpak Compliant

Trustpak Compliant

Trustpak Compliant
Trustpak Compliant
Trustpak Compliant












64.


Register of controlled money



(1)


(2)

(3)

- (a)
- (b)
- (c)
- (d)
(4)

- (a)
- (b)
- (c)
- (d)
- (e)
- (f)
- (g)
- (h)

(5)


(6)

(7)


(8)

- (a)
--- (i)
--- (ii)

--- (iii)
- (b)
(9)

If a law practice receives controlled money, it must maintain a register of controlled money for the records of controlled money movements for all its controlled money accounts.
A separate record of controlled money movements must be maintained for each controlled money account.
A record of controlled money movements for a controlled money account must record the following information:
the name of the person on whose behalf the controlled money is held,
the person's address,
particulars sufficient to identify the matter,
any changes to the information referred to in paragraphs (a)-(c).
The following particulars must be recorded in a record of controlled money movements for a controlled money account:
the date the controlled money was received,
the number of the receipt,
the date the money was deposited in the controlled money account,
the name of and other details clearly identifying the controlled money account,
the amount of controlled money deposited,
details of the deposit sufficient to identify the deposit,
interest received,
details of any payments from the controlled money account, including the particulars required to be recorded under these Rules.
Subject to subrule (6), particulars of receipts and payments must be entered in the register as soon as practicable after the controlled money is received by the law practice or any payment is made.
Interest and other income received in respect of controlled money must be entered in the register as soon as practicable after the law practice is notified of its receipt.
The law practice must keep as part of its trust records all supporting information (including ADI statements and notifications of interest received) relating to controlled money.
Within 15 working days after each named month, the law practice must prepare and keep in permanent form a statement as at the end of the named month:
containing a list of the practice's controlled money accounts showing:
the name, number and balance of each account in the register, and
the name of the person on whose behalf the controlled money in each account was held, and
a short description of the matter to which each account relates, and
showing the date the statement was prepared.
The statement required to be prepared each month under subrule (8) must be reviewed by a principal of the law practice who is authorised to receive trust money and that review must be evidenced on the statement.

Trustpak Compliant


Trustpak Compliant



Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant


Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant
Trustpak Compliant

User Responsible


User Responsible

User Responsible


User Responsible


Trustpak Compliant
Trustpak Compliant

Trustpak Compliant
Trustpak Compliant
User Responsible

These are holding accounts

Each CMA has a seperate ledger






Trustpak - USA Compliance Matrix

Compliance is based on a state by state basis, laws and or regulations governing trust accounting may differ considerably between each state

Please Note: The following information is a guide to show what rules and sub rules of the State Bar Practice Laws Trustpak complies with, some of the items are dependent on the User and this is stated as "User Responsible"


Note: Our research of Trustpak USA compliance is based on State Bar Attorney/Lawyer Rules of General Trust accounts
& IOLTA Trust Accounts.



SOURCE: CONNECTICUT - PRACTICE BOOK - RULES OF PROFESSIONAL CONDUCT RULE 1.15 Safekeeping Property
RULE: 1.15. - Safekeeping Property

Date Checked: 4th July 2018

NOTE: This information is NOT to be used as a reference to Government Trust Account Laws and or Regulations, it is meant only as a guide to show you which part of the regulations Trustpak is compliant with, we cannot guarantee the accuracy of this information beyond the "Date Checked" however we will do our best to keep this matrix up to date. Please note it is the responsibility of each user to make sure they are compliant with the regulations. The information provided here is intended to help with that process.

NOTE: Incorrect installations and modifications to installations may effect Trustpak's compliance with these regulations.

DISCLAIMER: This information is provided with the understanding that the laws governing trust accounting, legal ethics and professional responsibility are always changing. This information is not a substitute for legal advice and may not be suitable in a particular situation. You must make your own judgement on the actual compliance of Trustpak. Infobiz Solutions Pty Ltd, their employees and their representatives, and the author shall not be liable for any damages resulting from any error, inaccuracy, or omission.

Rule
Paragraph
Description
Compliance
Notes


1.15.



Safekeeping Property



(a)

As used in this Rule, the terms below shall have the following meanings:



- (1)



- (2)









- (3)





- (4)











- (5)







- (6)


- (7)

"Allowable reasonable fees" for IOLTA accounts are per check charges, per deposit charges, a fee in lieu of a minimum balance, federal deposit insurance fees, sweep fees, and a reasonable IOLTA account administrative or maintenance fee.

An "eligible institution" means (i) a bank or savings and loan association authorized by federal or state law to do business in Connecticut, the deposits of which are insured by an agency of the United States government, or (ii) an openend investment company registered with the United States Securities and Exchange Commission and authorized by federal or state law to do business in Connecticut. In addition, an eligible institution shall meet the requirements set forth in subsection (i) (3) below. The determination of whether or not an institution is an eligible institution shall be made by the organization designated by the judges of the superior court to administer the program pursuant to subsection (i) (4) below, subject to the dispute resolution process provided in subsection (i) (4) (E) below.

"Federal Funds Target Rate" means the target level for the federal funds rate set by the Federal Open Market Committee of the Board of Governors of the Federal Reserve System from time to time or, if such rate is no longer available, any comparable successor rate. If such rate or successor rate is set as a range, the term ``Federal Funds Target Rate'' means the upper limit of such range.

"Interest- or dividend-bearing account" means (i) an interest-bearing checking account, or (ii) an investment product which is a daily (overnight) financial institution repurchase agreement or an open-end money market fund. A daily financial institution repurchase agreement must be fully collateralized by U.S. Government Securities and may be established only with an eligible institution that is "well-capitalized" or "adequately capitalized" as those terms are defined by applicable federal statutes and regulations. An open-end money market fund must be invested solely in U.S. Government Securities or repurchase agreements fully collateralized by U.S. Government Securities, must hold itself out as a "money market fund" as that term is defined by federal statutes and regulations under the Investment Company Act of 1940 and, at the time of the investment, must have total assets of at least $250,000,000.

"IOLTA account" means an interest- or dividend- bearing account established by a lawyer or law firm for clients' funds at an eligible institution from which funds may be withdrawn upon request by the depositor without delay. An IOLTA account shall include only client or third person funds, except as permitted by subsection (i) (6) below. The determination of whether or not an interest- or dividend-bearing account meets the requirements of an IOLTA account shall be made by the organization designated by the judges of the superior court to administer the program pursuant to subsection (i) (4) below.

"Non-IOLTA account" means an interestor dividend-bearing account, other than an IOLTA account, from which funds may be withdrawn upon request by the depositor without delay.

"U.S. Government Securities" means direct obligations of the United States government, or obligations issued or guaranteed as to principal and interest by the United States or any agency or instrumentality thereof, including United States government-sponsored enterprises, as such term is defined by applicable federal statutes and regulations.

Term



Term









Term





Term











Term







Term


Term










(b)

A lawyer shall hold property of clients or third persons that is in a lawyer's possession in connection with a representation separate from the lawyer's own property. Funds shall be kept in a separate account maintained in the state where the lawyer's office is situated or elsewhere with the consent of the client or third person. Other property shall be identified as such and appropriately safeguarded. Complete records of such account funds and other property shall be kept by the lawyer and shall be preserved for a period of seven years after termination of the representation.

User Responsible


(c)

A lawyer may deposit the lawyer's own funds in a client trust account for the sole purposes of paying bank service charges on that account or obtaining a waiver of fees and service charges on the account, but only in an amount necessary for those purposes.

User Responsible


(d)

Absent a written agreement with the client otherwise, a lawyer shall deposit into a client trust account legal fees and expenses that have been paid in advance, to be withdrawn by the lawyer only as fees are earned or expenses incurred.

User Responsible


(e)

Upon receiving funds or other property in which a client or third person has an interest, a lawyer shall promptly notify the client or third person. Except as stated in this Rule or otherwise permitted by law or by agreement with the client or third person, a lawyer shall promptly deliver to the client or third person any funds or other property that the client or third person is entitled to receive and, upon request by the client or third person, shall promptly render a full accounting regarding such property.

User Responsible


(f)

When in the course of representation a lawyer is in possession of property in which two or more persons (one of whom may be the lawyer) have interests, the property shall be kept separate by the lawyer until any competing interests are resolved. The lawyer shall promptly distribute all portions of the property as to which the lawyer is able to identify the parties that have interests and as to which there are no competing interests. Where there are competing interests in the property or a portion of the property, the lawyer shall segregate and safeguard the property subject to the competing interests.

User Responsible


(g)

The word "interest(s)" as used in this subsection and subsections (e) and (f) means more than the mere assertion of a claim by a third party. In the event a lawyer is notified by a third party or a third party's agent of a claim to funds held by the lawyer on behalf of a client, but it is unclear to the lawyer whether the third party has a valid interest within the meaning of this Rule, the lawyer may make a written request that the third party or third party's agent provide the lawyer such reasonable information and/or documentation as needed to assist the lawyer in determining whether substantial grounds exist for the third party's claim to the funds. If the third party or third party's agent fails to comply with such a request within sixty days, the lawyer may distribute the funds in question to the client.

User Responsible


(h)

Notwithstanding subsections (b), (c), (d), (e) and (f), lawyers and law firms shall participate in the statutory program for the use of interest earned on lawyers' clients' funds accounts to provide funding for the delivery of legal services to the poor by nonprofit corporations whose principal purpose is providing legal services to the poor and for law school scholarships based on financial need. Lawyers and law firms shall place a client's or third person's funds in an IOLTA account if the lawyer or law firm determines, in good faith, that the funds cannot earn income for the client in excess of the costs incurred to secure such income. For the purpose of making this good faith determination of whether a client's funds cannot earn income for the client in excess of the costs incurred to secure such income, the lawyer or law firm shall consider the following factors:

User Responsible


- (1)

- (2)


- (3)


- (4)



- (5)


- (6)


- (7)

The amount of the funds to be deposited;

the expected duration of the deposit, including the likelihood of delay in resolving the relevant transaction, proceeding or matter for which the funds are held;

the rates of interest, dividends or yield at eligible institutions where the funds are to be deposited;

the costs associated with establishing and administering interest-bearing accounts or other appropriate investments for the benefit of the client, including service charges, minimum balance requirements or fees imposed by the eligible institutions;

the costs of the services of the lawyer or law firm in connection with establishing and maintaining the account or other appropriate investments;

the costs of preparing any tax reports required for income earned on the funds in the account or other appropriate investments; and

any other circumstances that affect the capability of the funds to earn income for the client in excess of the costs incurred to secure such income. No lawyer shall be subject to discipline for determining in good faith to deposit funds in the interest earned on lawyers' clients' funds account in accordance with this subsection.

User Responsible

User Responsible


User Responsible


User Responsible



User Responsible


User Responsible


User Responsible










(i)

An IOLTA account may only be established at an eligible institution that meets the following requirements:



- (1)

- (2)


--- (A)




--- (B)







--- (C)


- (3)



--- (A)





















--- (B)


--- (C)











- (4)







--- (A)



--- (B)
















--- (C)

--- (D)

--- (E)



- (5)



--- (A)





--- (B)


--- (C)




--- (D)




--- (E)

--- (F)




- (6)




--- (A)


--- (B)

No earnings from the IOLTA account shall be made available to a lawyer or law firm.

Lawyers or law firms depositing a client's or third person's funds in an IOLTA account shall direct the depository institution:

To remit interest or dividends, net of allowable reasonable fees, if any, on the average monthly balance in the account, or as otherwise computed in accordance with the institution's standard accounting practices, at least quarterly, to the organization designated by the judges of the superior court to administer this statutory program;

To transmit to the organization administering the program with each remittance a report that identifies the name of the lawyer or law firm for whom the remittance is sent, the amount of remittance attributable to each IOLTA account, the rate and type of interest or dividends applied, the amount of interest or dividends earned, the amount and type of fees and service charges deducted, if any, and the average account balance for the period for which the report is made and such other information as is reasonably required by such organization; and

To transmit to the depositing lawyer or law firm at the same time a report in accordance with the institution's normal procedures for reporting to its depositors.

Participation by banks, savings and loan associations, and investment companies in the IOLTA program is voluntary. An eligible institution that elects to offer and maintain IOLTA accounts shall meet the following requirements:

The eligible institution shall pay no less on its IOLTA accounts than the highest interest rate or dividend generally available from the institution to its non-IOLTA customers when the IOLTA account meets or exceeds the same minimum balance or other eligibility qualifications on its non- IOLTA accounts, if any. In determining the highest interest rate or dividend generally available from the institution to its non-IOLTA customers, an eligible institution may consider, in addition to the balance in the IOLTA account, factors customarily considered by the institution when setting interest rates or dividends for its non-IOLTA customers, provided that such factors do not discriminate between IOLTA accounts and non-IOLTA accounts and that these factors do not includethe fact that the account is an IOLTA account. In lieu of the rate set forth in the first sentence of this subparagraph, an eligible institution may pay a rate equal to the higher of either (i) one percent per annum, or (ii) sixty percent of the Federal Funds Target Rate. Such alternate rate shall be determined for each calendar quarter as of the first business day of such quarter and shall be deemed net of allowable reasonable fees and service charges. The eligible institution may offer, and the lawyer or law firm may request, a sweep account that provides a mechanism for the overnight investment of balances in the IOLTA account in an interest- or dividend-bearing account that is a daily financial institution repurchase agreement or a money market fund. Nothing in this Rule shall preclude an eligible institution from paying a higher interest rate or dividend than described above or electing to waive any fees and service charges on an IOLTA account. An eligible institution may choose to pay the higher interest or dividend rate on an IOLTA account in lieu of establishing it as a higher rate product.

Interest and dividends shall be calculated in accordance with the eligible institution's standard practices for non-IOLTA customers.

Allowable reasonable fees are the only fees and service charges that may be deducted by an eligible institution from interest earned on an IOLTA account. Allowable reasonable fees may be deducted from interest or dividends on an IOLTA account only at the rates and in accordance with the customary practices of the eligible institution for non-IOLTA customers. No fees or service charges other than allowable reasonable fees may be assessed against the accrued interest or dividends on an IOLTA account. Any fees and service charges other than allowable reasonable fees shall be the sole responsibility of, and may only be charged to, the lawyer or law firm maintaining the IOLTA account. Fees and service charges in excess of the interest or dividends earned on one IOLTA account for any period shall not be taken from interest or dividends earned on any other IOLTA account or accounts or from the principal of any IOLTA account.

The judges of the superior court, upon recommendation of the chief court administrator, shall designate an organization qualified under Sec. 501 (c) (3) of the Internal Revenue Code, or any subsequent corresponding Internal Revenue Code of the United States, as from time to time amended, to administer the program. The chief court administrator shall cause to be printed in the Connecticut Law Journal an appropriate announcement identifying the designated organization. The organization administering the program shall comply with the following:

Each June mail to each judge of the superior court and to each lawyer or law firm participating in the program a detailed annual report of all funds disbursed under the program including the amount disbursed to each recipient of funds;

Each June submit the following in detail to the chief court administrator for approval and comment by the Executive Committee of the superior court: (i) its proposed goals and objectives for the program; (ii) the procedures it has established to avoid discrimination in the awarding of grants; (iii) information regarding the insurance and fidelity bond it has procured; (iv) a description of the recommendations and advice it has received from the Advisory Panel established by General Statutes § 51-81c and the action it has taken to implement such recommendations and advice; (v) the method it utilizes to allocate between the two uses of funds provided for in § 51-81c and the frequency with which it disburses funds for such purposes; (vi) the procedures it has established to monitor grantees to ensure that any limitations or restrictions on the use of the granted funds have been observed by the grantees, such procedures to include the receipt of annual audits of each grantee showing compliance with grant awards and setting forth quantifiable levels of services that each grantee has provided with grant funds; (vii) the procedures it has established to ensure that no funds that have been awarded to grantees are used for lobbying purposes; and (viii) the procedures it has established to segregate funds to be disbursed under the program from other funds of the organization;

Allow the judicial branch access to its books and records upon reasonable notice;

Submit to audits by the judicial branch; and

Provide for a dispute resolution process for resolving disputes as to whether a bank, savings and loan association, or open-end investment company is an eligible institution within the meaning of this Rule.

Before an organization may be designated to administer this program, it shall file with the chief court administrator, and the judges of the superior court shall have approved, a resolution of the board of directors of such an organization which includes provisions:

Establishing that all funds the organization might receive pursuant to subsection (i) (2) (A) above will be exclusively devoted to providing funding for the delivery of legal services to the poor by nonprofit corporations whose principal purpose is providing legal services to the poor and for law school scholarships based on financial need and to the collection, management and distribution of such funds;

Establishing that all interest and dividends earned on such funds, less allowable reasonable fees, if any, shall be used exclusively for such purposes;

Establishing and describing the methods the organization will utilize to implement and administer the program and to allocate funds to be disbursed under the program, the frequency with which the funds will be disbursed by the organization for such purposes, and the segregation of such funds from other funds of the organization;

Establishing that the organization shall consult with and receive recommendations from the Advisory Panel established by General Statutes § 51-81c regarding the implementation and administration of the program, including the method of allocation and the allocation of funds to be disbursed under such program;

Establishing that the organization shall comply with the requirements of this Rule; and

Establishing that said resolution will not be amended, and the facts and undertakings set forth in it will not be altered, until the same shall have been approved by the judges of the superior court and ninety days have elapsed after publication by the chief court administrator of the notice of such approval in the Connecticut Law Journal.

Nothing in this subsection (i) shall prevent a lawyer or law firm from depositing a client's or third person's funds, regardless of the amount of such funds or the period for which such funds are expected to be held, in a separate non-IOLTA account established on behalf of and for the benefit of the client or third person. Such an account shall be established as:

A separate clients' funds account for the particular client or third person on which the interest or dividends will be paid to the client or third person; or

A pooled clients' funds account with subaccounting by the bank, savings and loan association or investment company or by the lawyer or law firm, which provides for the computation of interest or dividends earned by each client's or third person's funds and the payment thereof to the client or third person.

Financial Institution

Financial Institution


Financial Institution




Financial Institution







Financial Institution


Financial Institution



Financial Institution





















Financial Institution


Financial Institution











Org. Administering







Org. Administering



Org. Administering
















Org. Administering

Org. Administering

Org. Administering



Org. Administering



Org. Administering





Org. Administering


Org. Administering




Org. Administering




Org. Administering

Org. Administering




User Responsible




Trustpak Compliant


Trustpak Compliant










(j)

A lawyer who practices in this jurisdiction shall maintain current financial records as provided in this Rule and shall retain the following records for a period of seven years after termination of the representation:

User Responsible


- (1)



- (2)




- (3)


- (4)


- (5)

- (6)

- (7)



- (8)




- (9)


- (10)

receipt and disbursement journals containing a record of deposits to and withdrawals from client trust accounts, specifically identifying the date, source, and description of each item deposited, as well as the date, payee and purpose of each disbursement;

ledger records for all client trust accounts showing, for each separate trust client or beneficiary, the source of all funds deposited, the names of all persons for whom the funds are or were held, the amount of such funds, the descriptions and amounts of charges or withdrawals, and the names of all persons or entities to whom such funds were disbursed;

copies of retainer and compensation agreements with clients as required by Rule 1.5 of the Rules of Professional Conduct;

copies of accountings to clients or third persons showing the disbursement of funds to them or on their behalf;

copies of bills for legal fees and expenses rendered to clients;

copies of records showing disbursements on behalf of clients;

the physical or electronic equivalents of all checkbook registers, bank statements, records of deposit, prenumbered canceled checks, and substitute checks provided by a financial institution;

records of all electronic transfers from client trust accounts, including the name of the person authorizing transfer, the date of transfer, the name of the recipient and confirmation from the financial institution of the trust account number from which money was withdrawn and the date and the time the transfer was completed;

copies of monthly trial balances and at least quarterly reconciliations of the client trust accounts maintained by the lawyer; and

copies of those portions of client files that are reasonably related to client trust account transactions.

Trustpak Compliant



Trustpak Compliant




User Responsible


Trustpak Compliant


User Responsible

Trustpak Compliant

User Responsible



Trustpak Compliant




Trustpak Compliant


Trustpak Compliant

All details recorded



All details recorded







Client Statements


User Billing System

Client Statements

User Bank Responsible



All details recorded




Copy auto saved


All details recorded


(k)

With respect to client trust accounts required by this Rule:



- (1)



- (2)


- (3)

only a lawyer admitted to practice law in this jurisdiction or a person under the direct supervision of the lawyer shall be an authorized signatory or authorize transfers from a client trust account;

receipts shall be deposited intact and records of deposit should be sufficiently detailed to identify each item; and

withdrawals shall be made only by check payable to a named payee or by authorized electronic transfer and not to cash.

User Responsible



Trustpak Compliant


Trustpak Compliant





Sufficient detail recorded


Trustpak Supports Check & EFT


(l)

The records required by this Rule may be maintained by electronic, photographic, or other media provided that they otherwise comply with these Rules and that printed copies can be produced. These records shall be readily accessible to the lawyer.

Trustpak Compliant

All Reports Printable


(m)

Upon dissolution of a law firm or of any legal professional corporation, the partners shall make reasonable arrangements for the maintenance of client trust account records specified in this Rule.

User Responsible



(n)

Upon the sale of a law practice, the seller shall make reasonable arrangements for the maintenance of records specified in this Rule.

User Responsible