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Feb 25, 2021 By Jim Ash Senior Editor Top Stories
Joseph “Jody” Hudgins
When it convenes March 5 via videoconference, the Board of Governors will weigh a host of issues, from new member benefits and an advertising challenge, to a proposed rule change that could generate significant income for the Bar Foundation.
The latter was suggested by public member Joseph “Jody” Hudgins a Sarasota banker and is contained in a Disciplinary Procedures Committee proposal to amend Rule 5-5.1 Trust Accounts.
The proposed changes to subdivision (g) Interest on Trust Accounts (IOTA) Program, would require eligible financial institutions to provide a minimum interest rate for IOTA accounts and tie the minimum rate to specific indexed rate points.