NC Adopts Comparability Rule

Compliance Date - July 1,2010
After July 1, 2010, lawyers may keep NC IOLTA accounts only in eligible banks.

A comparability requirement is a revision to IOLTA rules that requires lawyers to hold their IOLTA accounts only at eligible banks that will agree to pay IOLTA accounts the highest rate available to that banks other customers when the IOLTA accounts meet the same minimum balance or other account qualifications.

NC IOLTA is pleased to report that every participating bank with NC IOLTA accounts at the time of the rule change has been certified as an eligible bank. In addition, several new banks have been certified and are ready to offer NC IOLTA accounts.

To view the list of NC IOLTA Eligible Banks, click here.

Read Revised Rule .1316

Read Revised Rule .1317

Frequently Asked Questions about Comparability