The IOLTA (Interest On Lawyers’ Trust Accounts) program was established by the Tennessee Supreme Court in 1984, and the responsibility for its administration was assigned to the Tennessee Bar Foundation.  The purpose of the program is to raise funds to be distributed, in the form of grants, to organizations in Tennessee that provide direct legal services to the indigent, to organizations that seek to improve the administration of justice and to students, in the form of scholarships, at the state-supported law schools.  IOLTA has granted over $14,400,000 to providers of these services in the state.  Click on the links below for information about applying for a grant and for a list of current grant recipients.

• Grant Recipients 2008
• Grant Application 2008 (examples only)

The IOLTA program functions as a partnership between the legal community and the community of financial institutions. Click on the links below for materials pertaining to lawyers and materials written specifically for bankers.

Lawyer Resources 

• Open an IOLTA account (“Notice to Financial Institution”)
• 1984 and 1985 Supreme Court Orders (creating the Tennessee
   IOLTA program) (~3MB)
• Supreme Court Rule 43 – “Interest On Lawyers’ Trust Accounts”
• Rule of Professional Conduct 1.15 – “Safekeeping Property”
• Frequently Asked Questions – Tennessee IOLTA Program

Banker Resources

• Guidelines for Financial Institutions
• Help a lawyer open an IOLTA account (“Notice to Financial
   Institution”)
• Remittance Report Form
• Electronic Reporting/Funds Transfer (including encrypted email) - contact
   rhonda@tnbarfoundation.org