Eligible Institutions for Fiduciary Funds

The Supreme Court updates from time to time (and the Disciplinary Board publishes in the Pennsylvania Bulletin) a list of the names of financial institutions which are “eligible institutions” in which lawyers may deposit funds held by the lawyer as a personal representative, guardian, conservator, receiver, trustee, agent under a durable power of attorney, or other similar position.  (See Pa.R.D.E. 221(b) and Pa.R.P.C. 1.15(a)(2).)

The most recent order of the Supreme Court is “Financial Institutions Approved as Depositories for Fiduciary Accounts; No. 173 Disciplinary Rules Doc.” (2/8/2019), 49 Pa.B. 841 (2/23/2019), also published by the Disciplinary Board as “Financial Institutions Approved as Depositories of Trust Accounts of Attorneys” at 49 Pa.B. 838 (2/23/2019).

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