CALL FOR COMMENTS – Lawyer Trust Account Rule

June 20, 2016 - Member Announcements

The Board of Officers and Commissioners of the Wyoming State Bar invites comments from Bar members regarding proposed amendments to Rule 1.15 (safekeeping property) of the Wyoming Rules of Professional Conduct.

A first draft of proposed amendments to the Rule was put out for member comment on April 19, 2016, and a number of comments were received during the comment period, which ended May 27, 2016. The proposed amendments have also been reviewed by staff counsel for the ABA Commission on IOLTA. As a result of input from those sources, a second draft is available for comment.

The proposed amendments, which will add Wyoming to the list of 46 states that require disciplinary counsel to be notified of trust account overdrafts, contain Rule changes:

Eliminating Rule 1.15A, special provisions regarding IOLTA accounts, and moving those provisions within the body of Rule 1.15(a). This will avoid confusion that often comes with having two rules similarly named.
Updating the record keeping requirements for lawyer trust accounts in accordance with ABA Model Rules for Trust Account Records that were adopted in 2010 – Rule 1.15(g).
Providing a few “dos” and “don’ts” for management of a trust account – Rule 1.15(b)(4).
Updating other provisions and comments to track similar changes to the ABA Model Rule.

Comments should be submitted to Mark Gifford, Bar Counsel, at mgifford@wyobc.org, on or before July 22, 2016.

Click here to download the proposed amendments, which are shown in strike-thru (proposed deletions), underline (proposed additions) format.