Definition of “allowable monthly service charges.” For purposes of this chapter,
Client Trust Account Rules
Rule: 45.5
Jurisdiction: IA
Bluebook Citation: Iowa Ct. R. 45.5
“allowable monthly service charges” means the monthly fee customarily assessed by the institution against a depositor solely for the privilege of maintaining the type of account involved. Fees or charges assessed for transactions involving the account, such as fees for wire transfers, stop payment orders, or check printing, are a lawyer’s or law firm’s responsibility and may not be paid or deducted from interest or dividends otherwise payable to the Lawyer Trust Account Commission. [Court Order April 20, 2005, effective July 1, 2005]
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