Common Contracts
1 similar Trust Account Overdraft Notification Agreement contracts
TRUST ACCOUNT OVERDRAFT NOTIFICATION AGREEMENTTrust Account Overdraft Notification Agreement • March 9th, 2021
(Financial Institution) submits this Trust Account Overdraft Notification Agreement (TAON Agreement) to apply for approval to serve as a depository for lawyer trust accounts, including IOLTA and non-IOLTA trust accounts, pursuant to the requirements of Michigan Rule of Professional Conduct (MRPC) 1.15. In consideration for the approval, Financial Institution agrees to comply with the overdraft reporting requirements set forth in MRPC 1.15A, as amended from time to time, and with this TAON Agreement. The reporting requirements apply to all lawyer trust accounts, including both IOLTA trust accounts and non-IOLTA trust accounts that have been identified to the Financial Institution in writing as a lawyer trust account by the account holder pursuant to MRPC 1.15A(a)(2).
