The Georgia Bar Foundation was created for charitable, religious, and educational purposes in 1967. It is a 501(c)(3) organization named by the Supreme Court of Georgia in 1983 to receive IOLTA funds to support legal services for the poor, to improve the administration of justice, to promote professionalism in law practice in order best to serve the public, to aid children involved in the justice system, and to advance the legal system through historical study. The Foundation has a 19-member Board of Trustees, 16 of whom are appointed directly by the Supreme Court of Georgia and three of whom are members by virtue of being officers of the State Bar of Georgia. The Foundation has three staff members.
Notice Regarding Amendments to Georgia Rule of Professional Conduct 1.15
The Supreme Court of Georgia, having considered a Motion to Amend the Rules and Regulations for the Organization and Government of the State Bar of Georgia, has ordered that Rule 1.15(I). Safekeeping Property-General; Rule 1.15(II). Safekeeping Property-Trust Account and IOLTA; and Rule 1.15(III). Record Keeping; Trust Account Overdraft Notification; Examination of Records, be amended and that new Part XV regarding the Georgia Bar Foundation be approved. These amendments are effective Jan. 1, 2016.
Click here to access a copy of the Supreme Court's order. In accordance with Rule 15-103(b), the initial benchmark interest rate or index for consideration of financial institutions offering IOLTA accounts is 65 percent of the Federal Funds target rate.
All questions regarding this matter should be directed to:
Len Horton, Executive Director
Georgia Bar Foundation