“Taking” a Constitutional Look at the State Bar of Texas Proposal to Collect Interest on Attorney-Client Trust Accounts
Baker, Thomas E.
Wood, Richard E., Jr.
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Discusses the constitutionality of the Texas Interest on Trust Accounts (TEX-IOTA). TEX-IOTA is a proposed program in which interest on attorney-client trust accounts that are held for a short period or small in amount would be paid to a charitable organization affiliated with the State Bar of Texas. This program is based on similar programs in other states. Though the authors praise the proposal’s laudable purpose, they express serious concerns and warn against losing sight of the constitutional framework in which policy must be formed.