33-44-5-8. Good Faith Judgment Concerning Deposit of Funds; Attorney Liability
Sec. 8. An attorney: (1) does not breach a fiduciary duty; (2) is not liable in damages; and (3) is not subject to disciplinary action; because of a deposit of money in an interest bearing attorney trust account if the attorney acted in accordance with a good faith judgment that the money constituted qualified funds. […]
33-44-6-1. Trust Accounts Containing Qualified Funds; Transition to Interest Bearing Attorney Trust Account
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.
33-44-6-2. Terms and Conditions
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.
33-44-6-3. Interest Accrued by Account; Board Ownership of Beneficial Interest
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.
33-44-6-4. Remittance of Interest Earned on Account
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.
33-44-6-5. Remittance of Interest; Procedure
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.
33-44-6-6. Statement of Depository Financial Institution Required Upon Remittance
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.
33-44-6-7. Contents of Statement of Depository Financial Institution
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.
33-44-6-8. Duty of Institution to Determine or Inquire Into Type of Funds Deposited
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.
33-44-5-1. Application of Chapter
Sec. 1. Except as provided in section 2 of this chapter, each attorney is subject to this article. [Pre-2004 Recodification Citation: 33-20-5-1.] As added by P.L.98-2004, SEC.23.