CO · rules
Colo. LLP RPC 1.15C
Use of Trust Accounts by LLPs Practicing in Firms Without Lawyers
(a) An LLP practicing in a firm without a lawyer shall not use any debit card or
automated teller machine card to withdraw funds from a trust account. Cash withdrawals
from trust accounts and checks drawn on trust accounts payable to ‘‘Cash’’ are prohibited.
All trust account funds intended for deposit shall be deposited intact without deductions or
‘‘cash out’’ from the deposit, and the duplicate deposit slip that evidences the deposit shall
be sufficiently detailed to identify each item deposited.
(b) All trust account withdrawals and transfers shall be made only by an LLP or by a
person supervised by such LLP. Such withdrawals and transfers may be made only by
authorized bank or wire transfer or by check payable to a named payee. Only an LLP or a
person supervised by such LLP shall be an authorized signatory on a trust account.
(c) No less than quarterly, an LLP or a person supervised by such LLP shall reconcile
the trust account records both as to individual clients or other persons and in the aggregate
with the bank statements issued by the bank in which the trust account is maintained.
History
Source: Entire appendix adopted April 13, 2023, effective July 1, 2023 (Rule Change 2023(08)).
Provenance
- Source
- content.leg.colorado.gov
- Retrieved
- 2026-09-15
- Edition
- 2026-09-15
- Content hash
71ff147e722b4e166c5c3fd0bab055a750a4af404d792f69a393f1137ccb827d
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