Today, the Massachusetts IOLTA Committee announces that Executive Director Jayne Tyrrell, Esq. is stepping down from her position as of September 1.
IOLTA BLOG
On October 1, 2020, the Supreme Judicial Court issued its opinion In the Matter of Olchowski, 485 Mass. 807 (2020). The Court held that client funds on deposit in IOLTA accounts whose owners cannot be identified do not fall within the statutory definition of “abandoned property” under G.L. c. 200A, and therefore such funds should be remitted to the IOLTA Committee rather than escheated to the treasury.
Read more: SUPREME JUDICIAL COURT ORDERS UNIDENTIFIED IOLTA FUNDS TRANSFERRED TO IOLTA COMMITTEE
Unidentified client funds on deposit in an IOLTA account do not fall within the statutory definition of "abandoned property".
For additional information, please contact please contact Jayne Tyrrell at This email address is being protected from spambots. You need JavaScript enabled to view it. or 617-723-9093.
Amid the economic downturn, some IOLTA banks go above and beyond to provide critically needed resources for legal services.
MAIOLTA.ORG
The Massachusetts IOLTA Committee
18 Tremont Street, Suite1010
Boston, MA 02108-2316
- Email: questions@maiolta.org
- Phone: (617) 723-9093
- Fax: (617) 367-8815
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