Cornerstone Community Bank | Chattanooga Banking

Interest On Lawyers’ Trust Accounts (IOLTA) are interest-bearing accounts used by attorneys and law firms to handle the settlement funds for their clients.

For your information, the IOLTA program was established by the Tennessee Supreme Court in 1984, and the responsibility for its administration was assigned to the Tennessee Bar Foundation.

The purpose of the program is to raise funds to be distributed, in the form of grants, to organizations in Tennessee that provide direct legal services to the indigent, to organizations that seek to improve the administration of justice and to students, in the form of scholarships, at the state-supported law schools.