|Oregon State Bar Bulletin AUGUST/SEPTEMBER 2011|
Where You Bank Matters
Did you know that the choice of bank for your IOLTA (Interest on Lawyer Trust Account) account makes a big difference in the lives of others? A small difference in interest rates can mean a gain of tens of thousands of dollars for the Oregon Law Foundation to distribute to organizations that provide legal services to persons of lesser means. Thanks to the IOLTA program contributions, Oregon legal services programs have received $26 million since 1989.
Even in these tough economic times, the OLF’s Leadership Banks have shown their commitment to the community and to access to justice in Oregon by maintaining supportive interest rates on these accounts. The OLF would specifically like to thank U.S. Bank for its recent decision to hold the line and not decrease the amount of interest client funds can earn. U.S. Bank is the largest bank in the state and has more of these accounts than any other bank, so this is a particularly important decision for OLF. U.S. Bank has shown a true commitment to access to justice and helping people in need.
If you aren’t already depositing your funds in a leadership bank, please consider switching to a higher-yield account. A
full list of higher-interest banks can be found at
House of Delegates Resolutions Deadline is Sept. 13
The 2011 House of Delegates annual meeting is scheduled for Oct. 28. In addition to the deadline for submitting resolutions, there are several other important dates related to the House of Delegates meeting:
Sept. 13: Deadline for resolutions for the house’s agenda. Resolutions must be received by the bar by 5 p.m., Tuesday, Sept. 13, 2011. For more information, contact Camille Greene at email@example.com.
Sept. 27-29: Regional Meetings to review the proposed House of Delegates resolutions. Schedule of meetings is online at www.osbar.org/leadership/hod/meeting.html.
Oct. 8: Distribution of the agenda. The agenda also will appear on the bar’s website.
Oct. 28: Annual House of Delegates meeting at the Oregon State Bar Center. The meeting will be followed by a reception recognizing the first group of new lawyers and mentors participating in the OSB’s recently launched New Lawyer Mentoring Program
If you have any other questions about the House of Delegates, visit www.osbar.org/leadership/hod.
Report All Abandoned Client Funds in October
It’s time to take a look at your lawyer trust account and make note of any abandoned client funds. Abandoned client funds are appropriated for the provision of legal services to the poor under the OSB Legal Services Program, so reporting on time helps fund access to justice in Oregon. Funds are deemed abandoned if the owner has not accepted payment of the funds, corresponded in writing about the funds or otherwise indicated interest in the funds within two years after the funds are payable or distributable to the owner.
Unclaimed funds held in lawyer trust accounts must be reported to the Oregon Department of State Lands, but paid over to the Oregon State Bar with a copy of the DSL report. Funds deemed abandoned as of June 30 of each year are to be reported to the DSL during the month of October of that same year, although earlier reporting may be allowed upon written request. Questions about forwarding abandoned funds can be addressed to Judith Baker at (503) 431-6323 or firstname.lastname@example.org
Watch for MCLE Compliance Reports via Email Next Month
Members whose MCLE reporting period ends Dec. 31, 2011 will receive their compliance reports via e-mail in late October. Visit the MCLE page at www.osbar.org/mcle for answers to frequently asked questions and updates on MCLE rule amendments. You can download your compliance report from the bar’s website at www.osbar.org/secured/login.asp. Log in to your account, then use the Check Your MCLE Compliance Report link under Annual Reporting.
Contact the MCLE Department at (503) 620-0222, ext. 368 with any questions.