The Supreme Court regulates Interest on Lawyers Trust Accounts (IOLTA) in Rhode Island, and all attorneys’ use of these accounts, through Article IV, Rule 2 and Article V, Rule 1.15 of the of the Supreme Court Rules.
While the Supreme Court retains sole authority to approve and regulate IOLTA depositories, interest earned on IOLTA accounts are remitted to the Rhode Island Bar Foundation (Foundation). The Foundation’s IOLTA program helps fund civil legal services for the poor, legal education for the public, and improvements in the administration of justice.