CLIENT-LAWYER RELATIONSHIP
RULE 1.15 SAFEKEEPING PROPERTY
(a) A lawyer shall
hold property of clients or third persons that is in a
lawyer's possession in connection with a representation
separate from the lawyer's own property. Funds shall be
kept in a separate account maintained in the state where
the lawyer's office is situated, or elsewhere with the
consent of the client or third person. Other property
shall be identified as such and appropriately safeguarded.
Complete records of such account funds and other property
shall be kept by the lawyer and shall be preserved for
a period of [five years] after termination of the representation.
(b) A lawyer may
deposit the lawyer's own funds in a client trust account
for the sole purpose of paying bank service charges on
that account, but only in an amount necessary for that
purpose.
(c) A lawyer shall
deposit into a client trust account legal fees and expenses
that have been paid in advance, to be withdrawn by the
lawyer only as fees are earned or expenses incurred.
(d) Upon receiving
funds or other property in which a client or third person
has an interest, a lawyer shall promptly notify the client
or third person. Except as stated in this rule or otherwise
permitted by law or by agreement with the client, a lawyer
shall promptly deliver to the client or third person any
funds or other property that the client or third person
is entitled to receive and, upon request by the client
or third person, shall promptly render a full accounting
regarding such property.
(e) When in the course of representation
a lawyer is in possession of property in which two or
more persons (one of whom may be the lawyer) claim interests,
the property shall be kept separate by the lawyer until
the dispute is resolved. The lawyer shall promptly distribute
all portions of the property as to which the interests
are not in dispute.
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