Ohio § 4705.10

§ 4705.10.

(A) All of the following apply to an interest-bearing trust account established under

authority of section 4705.09 of the Revised Code : (1) All funds in the account shall be subject to withdrawal upon request and without

delay, or as soon as is permitted by federal law; (2) The rate of interest payable on the account shall not be less than the rate paid

by the depository institution to regular, nonattorney depositors.  Higher rates offered by the institution to customers whose deposits exceed certain

time or quantity qualifications, such as those offered in the form of certificates

of deposit, may be obtained by a person or law firm establishing the account if there

is no impairment of the right to withdraw or transfer principal immediately. (3) The depository institution shall be directed, by the person or law firm establishing

the account, to do all of the following: (a) Remit interest or dividends, whichever is applicable, on the average monthly balance

in the account or as otherwise computed in accordance with the institution's standard

accounting practice, less reasonable service charges, to the treasurer of state at

least quarterly for deposit in the legal aid fund established under section 120.52 of the Revised Code ; (b) Transmit to the treasurer of state, upon its request, to the Ohio access to justice

foundation, and the depositing attorney, law firm, or legal professional association

upon the attorney's, firm's, or association's request, at the time of each remittance

required by division (A)(3)(a) of this section, a statement showing the name of the

attorney for whom or the law firm or legal professional association for which the

remittance is sent, the rate of interest applied, the accounting period, the net amount

remitted to the treasurer of state for each account, the total remitted, the average

account balance for each month of the period for which the report is made, and the

amount deducted for service charges; (4) The depository institution shall notify the office of disciplinary counsel or other

entity designated by the supreme court on each occasion when a properly payable instrument

is presented for payment from the account, and the account contains insufficient funds.  The depository institution shall provide this notice without regard to whether the

instrument is honored by the depository institution.  The depository institution shall provide the notice described in division (A)(4)

of this section by electronic or other means within five banking days of the date

that the instrument was honored or returned as dishonored.  The notice shall contain all of the following: (a) The name and address of the depository institution; (b) The name and address of the lawyer, law firm, or legal professional association that

maintains the account; (c) The account number and either the amount of the overdraft and the date issued or

the amount of the dishonored instrument and the date returned. (B)(1) The statements and reports of individual depositor information made under divisions

(A)(3) and (4) of this section are confidential and shall be used only for purposes

of administering the legal aid fund and for enforcement of the rules of professional

conduct adopted by the supreme court. (2) A depository institution may charge the lawyer, law firm, or legal professional association

that maintains the account with fees associated with producing and mailing a notice

required by division (A)(4) of this section but shall not deduct such fees from the

interest earned on the account.