RPC 1.14(c); Formal Opinion 177
Trust account; "qualified" accounts
At your request, the Committee reviewed its previous informal opinion regarding this requirement of RPC 1.14(c) that client trust funds be deposited in "qualified accounts", and that such a rule is mandatory and may not be waived by the client. The Committee continued its opinion that the rule is mandatory and may not be waived by the client. However, the Committee did want to point out to you that the lawyer may distribute the funds to the client and the client may then deposit the funds into any account the client may wish. The Committee also directed that I provide you with a copy of Formal Opinion 177, which addresses your apparent concern about the withdrawal of client funds prior to the date of clearance of checks or drafts.