Sec. 1. If the depositor and depository financial institution agree, a trust account that contains qualified funds held by an attorney subject to this article may be made an interest bearing attorney trust account. [Pre-2004 Recodification Citation: 33-20-6-1.] As added by P.L.98-2004, SEC.23.
Sec. 10. An entity may not maintain an action against a depository financial institution solely for: (1) offering, opening, or maintaining an interest bearing attorney trust account; (2) accepting funds for deposit in an interest bearing attorney trust account; or (3) remitting interest to the board. [Pre-2004 Recodification Citation: 33-20-6-10.] As added by P.L.98-2004, SEC.23.
Sec. 11. A paper, a record, a document, or other information identifying an attorney, a client, or a beneficial owner of an interest bearing attorney trust account is confidential. [Pre-2004 Recodification Citation: 33-20-6-11.] As added by P.L.98-2004, SEC.23.
Sec. 12. The board or a depository financial institution may not disclose information described by section 11 of this chapter except: (1) with the consent of the attorney maintaining the account; or (2) as permitted by: (A) law; or (B) rule adopted by the judicial department of state government. [Pre-2004 Recodification Citation: 33-20-6-12.] As added […]
Sec. 2. The terms and conditions of an interest bearing attorney trust account, except as required under this chapter, shall be determined by the depositor and the depository financial institution. A depository financial institution is not required to offer an interest bearing attorney trust account. [Pre-2004 Recodification Citation: 33-20-6-2.] As added by P.L.98-2004, SEC.23.
Sec. 3. The board owns the beneficial interest in the interest accrued by an interest bearing attorney trust account of an attorney who is subject to this article. [Pre-2004 Recodification Citation: 33-20-6-3.] As added by P.L.98-2004, SEC.23.
Sec. 4. Except for amounts deducted under terms or conditions agreed upon under section 2 of this chapter, a depository financial institution shall remit any interest earned on an interest bearing attorney trust account to the board. [Pre-2004 Recodification Citation: 33-20-6-4.] As added by P.L.98-2004, SEC.23.
Sec. 5. A depository financial institution shall make the remittance required under section 4 of this chapter not less frequently than quarterly and not later than fifteen (15) days after the end of the remittance period. [Pre-2004 Recodification Citation: 33-20-6-5.] As added by P.L.98-2004, SEC.23.
Sec. 6. A depository financial institution shall transmit a statement to: (1) the board; and (2) the attorney who maintains the interest bearing attorney trust account; when the depository financial institution remits interest under section 4 of this chapter. [Pre-2004 Recodification Citation: 33-20-6-6.] As added by P.L.98-2004, SEC.23.
Sec. 7. The statement described in section 6 of this chapter must contain the following information: (1) The name of the account. (2) The amount of interest remitted from the account. [Pre-2004 Recodification Citation: 33-20-6-7.] As added by P.L.98-2004, SEC.23.
Sec. 8. A depository financial institution is not required to determine or inquire whether a deposit includes qualified funds. [Pre-2004 Recodification Citation: 33-20-6-8.] As added by P.L.98-2004, SEC.23.
Sec. 9. The remittance of interest by a depository financial institution to the board from an interest bearing attorney trust account is a valid and sufficient release and discharge of a claim by an entity against the depository financial institution for the remittance. [Pre-2004 Recodification Citation: 33-20-6-9.] As added by P.L.98-2004, SEC.23.
