Indiana Statutes

§ 33-44-3-10 — "Qualified funds"

Indiana·Art. 44 INTEREST BEARING ATTORNEY TRUST·Ch. 3 Definitions

"Qualified funds" means money received by an attorney from a client or beneficial owner in a fiduciary capacity that, in the good faith judgment of the attorney, is:

(1)of such an amount; or
(2)reasonably expected to be held for such a short term; that sufficient interest income will not be generated to justify the expense of administering a segregated account. [Pre-2004 Recodification Citation: 33-20-3-10.]

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Legislative History

As added by P.L.98-2004, SEC.23.

Nearby Sections

15
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