NEWS
By David Conn and David Conn,Annapolis Bureau of The Sun | March 23, 1991
ANNAPOLIS -- The Senate handed a major defeat to title companies yesterday by passing a bill that requires them to give up the interest they earn on their clients' trust accounts and send it directly into the coffers of Baltimore.The bill originally would have sent the money, between $3 million and $7 million a year, to the Maryland Legal Services Corp., which funds legal programs for the poor and disadvantaged.In a victory for advocates for the poor, however, the Senate voted 27-19 against a bill that would have stopped the sending of $500,000 to the Maryland Legal Services Corp.
NEWS
By Ariel Sabar and Ariel Sabar,SUN STAFF | September 3, 2003
The cash-strapped Maryland Legal Services Corp., the quasi-public state agency that finances legal help for the poor, received a $425,000 check yesterday through the efforts of a Washington law firm, the second-largest private gift in the agency's 21-year history. The agency, which scaled back its grants to legal aid groups last year, said the donation will help maintain and possibly boost funding this year. "This really is a godsend for us," Robert J. Rhudy, the agency's executive director, said yesterday at a ceremony at the Robert C. Murphy Courts of Appeal Building in Annapolis.
BUSINESS
By David Conn and David Conn,Annapolis Bureau of The Sun | March 28, 1991
ANNAPOLIS -- State lawmakers will propose today that control over a growing pool of money that funds legal services for the poor should be shifted from a private-sector corporation to the state, with some of the money ending up in state coffers.The money -- $4.9 million last year -- is the interest law firms accrue on trust accounts set up for their clients. Since 1989, lawyers have been required to give the money, known as Interest on Lawyer Trust Accounts, or IOLTA, to the private, non-profit Maryland Legal Services Corp.
BUSINESS
By Mark Hyman and Mark Hyman,SUN STAFF | February 2, 1996
Advocates of legal aid for Maryland's poor are looking to the General Assembly for help in keeping their programs afloat in the wake of federal budget cuts that have reduced funding by millions of dollars.A bill filed yesterday in Annapolis would raise money for such programs, including Legal Aid and the House of Ruth, by collecting a surcharge when civil cases are filed in district and circuit courts across the state.The bill, sponsored by Del. Samuel I. "Sandy" Rosenberg, D-Baltimore, does not specify the amount of the extra charge, which would set by court officials.
BUSINESS
By David Conn and David Conn,Annapolis Bureau | February 15, 1992
ANNAPOLIS -- Legislation that would require title companies to give the state a significant chunk of their income got a major boost this week from a decision by a legal disciplinary board.Thanks to an opinion by the Maryland Attorney Grievance Commission,lawyers who set up title companies may keep the interest earned when they briefly hold their clients' money in trust accounts.The interest builds when a person buys a home and passes the purchase money first through the title company and then to the seller.
BUSINESS
By David Conn and David Conn,Annapolis Bureau | April 3, 1992
ANNAPOLIS -- Despite the threat of higher home closing costs, the General Assembly yesterday approved a bill that would require title companies to donate their escrow account interest to a new fund for affordable housing.The 81-53 vote by the House of Delegates sent Senate Bill 594 to the governor for his likely signature. And it ended a five-year battle between law firms and title companies, who sought to protect what they argue is their money.The money -- small amounts of interest earned when a title company holds a client's home purchase money in an escrow account -- will go to a fund to establish housing for the poor.