Interest on Lawyers Trust Accounts Program
The New Hampshire Supreme Court adopted Rule 50 in 1982 to establish the Interest on Lawyers Trust Accounts (IOLTA) Program in New Hampshire. Through IOLTA, interest earned on lawyers’ trust accounts that are either too nominal or held for too short a time period to warrant establishment of a separate client account, is forwarded to the New Hampshire Bar Foundation to be used for charitable purposes. Attorney participation in IOLTA supports the statewide IOLTA Grants Program. IOLTA grants fund nonprofit organizations that provide free or reduced-fee civil legal services to our most disadvantaged residents, and/or educational programs about the law and the courts.
Many banks and credit unions participate in our Leadership Institution program by paying an interest rate equal to the higher of 65% of the Federal Funds Target Rate or 1% on IOLTA accounts and waive routine services charges.