WisBar News
March 27, 2003
Supreme Court upholds IOLTA programs
On March 26, 2003, the U.S. Supreme Court, in a 5 - 4 decision, held in Brown v. Legal Foundation of Wash. (01-1325) that because "just compensation" is measured by the owner's pecuniary loss, which is zero whenever the IOLTA (Interest on Lawyer Trust Accounts) law is obeyed, there was no violation of the Just Compensation Clause.
Supreme Court upholds IOLTA programs
March 27, 2003
On March 26, 2003, the U.S. Supreme Court, in a 5 - 4 decision, held
in Brown v. Legal Foundation of Wash. (01-1325) that because
"just compensation" is measured by the owner's pecuniary loss, which is
zero whenever the IOLTA (Interest on Lawyer Trust Accounts) law is
obeyed, there was no violation of the Just Compensation Clause.
"Everyone who cares about providing civil legal services for the
indigent is extremely pleased that the Supreme Court upheld these IOLTA
programs," says State Bar President Pat Ballman. "If it had not, in
Wisconsin, we would have faced the huge task of replacing the lost $1.5
million in funding for legal services for the indigent. And every state
in the nation would have faced a similar challenge."
