California Business and Professions Code

§ 6091.1

BPC § 6091.1Div. 3 · Ch. 4 · Art. 5.5

Statute text

(a)The Legislature finds that overdrafts and misappropriations from attorney trust accounts are serious problems, and determines that it is in the public interest to ensure prompt detection and investigation of instances involving overdrafts and misappropriations from attorney trust accounts. A financial institution, including any branch, which is a depository for attorney trust accounts under subdivision (a) or (b) of Section 6211, shall report to the State Bar in the event any properly payable instrument is presented against an attorney trust account containing insufficient funds, irrespective of whether or not the instrument is honored.

(b)All reports made by the financial institution shall be in the following format:

(1)In the case of a dishonored instrument, the report shall be identical to the overdraft notice customarily forwarded to the depositor, and shall include a copy of the dishonored instrument, if such a copy is normally provided to depositors.

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Legislative history

Added by Stats. 1988, Ch. 1159, Sec. 21.