IOLTA
Defined in 1 dictionary — U.S. Code
United States Code
12 U.S.C. § 1787 — in this section
The terms "interest on lawyers trust account" and "IOLTA" mean a system in which lawyers place certain client funds in interest-bearing or dividend-bearing accounts, with the interest or dividends then used to fund programs such as legal service organizations who provide services to clients in need.