MINIMUM TRUST ACCOUNT PROCEDURES

Every attorney and law firm that maintains a trust account shall require periodic statements from the financial institution with respect to each such account no less than quarterly. Within 45 days of the receipt of each such statement, the attorney or law firm shall reconcile such statement with the books and records of the attorney or law firm. The attorney or law firm shall, within 60 days of receipt of the statement, take steps to correct any discrepancies that may exist. In the event of a discrepancy between the financial institution's statement and the books and records of the attorney or law firm, records of the discrepancy and of the corrective action shall be maintained as part of the records required under Rule 4 of these Rules. COMMENT: See Comment [7] to Rule 4 of these Rules for a description of the suggested procedures for reconciling the attorney’s client trust account records with the account statements supplied by the financial institution maintaining the account.