Del. R. Sup. Ct. 65

As amended through June 13, 2024
Rule 65 - Interest on Lawyer Trust Accounts
(a) Committee. -There shall be a Supreme Court Advisory Committee on the Interest on Lawyer Trust Accounts Program (IOLTA). The Committee shall consist of six members appointed by the court for three year, staggered terms, or until such time as their successors shall be appointed, or such other terms as may from time to time be fixed by the Court. The Court shall appoint the Chair and any other officers of the committee. The Court may appoint additional ex officio members of the Committee as it may deem appropriate who shall serve at the pleasure of the court. A justice of the Court may be designated as an ex officio member of the committee.
(b) Function. -It shall be the function and responsibility of the Committee:
(i) To oversee and monitor the operation of the Delaware Interest on Lawyers Trust Accounts Program, as established pursuant to Rule 1.15 of the Delaware Lawyers' Rules of Professional Conduct;
(ii) To offer, solicit, receive and consider comments thereon from members of the Bar, the Bench, the Delaware Bar Foundation and others and, where appropriate, to recommend to the Court changes in the Delaware IOLTA program;
(iii) To consult with and advise the Court from time to time with respect to the IOLTA program;
(iv) To prepare and submit a report to the Court on an annual basis concerning the status of the program and the work of the Committee; and
(v) To undertake such additional assignments and responsibilities in this regard as the Court may direct. Provided, however, that it shall remain the exclusive responsibility of the Delaware Bar Foundation, subject to the supervision and approval of the Court, to hold and to disburse all funds generated by the IOLTA program and periodically to render to the Court an audit of those funds.
(c) Distribution. -All interest transmitted to the Delaware Bar Foundation shall be distributed by that entity for the following purposes:
(i) To improve the administration of justice;
(ii) To provide legal services to the poor; and
(iii) For such other programs for the benefit of the public as are specifically approved by the Supreme Court of the state of Delaware form [from] time to time.

Del. R. Sup. Ct. 65