Rule1.15. Safekeeping property.
 A licensed paralegal practitioner shouldhold property of others with the care required of a professional fiduciary.Securities should be kept in a safe deposit box, except when some other form ofsafekeeping is warranted by special circumstances. All property which is theproperty of clients or third persons, including prospective clients, must bekept separate from the licensed paralegal practitioner's business and personalproperty and, if monies, in one or more trust accounts. In addition to normalmonthly maintenance fees on each account, licensed paralegal practitioners cananticipate that financial institutions may charge additional fees for reportingoverdrafts in accordance with this Rule. A licensed paralegal practitionershould maintain on a current basis books and records in accordance withgenerally accepted accounting practice and comply with any recordkeeping rulesestablished by law or court order.
 Licensed paralegal practitioners oftenreceive funds from third parties from which the licensed paralegalpractitioner's fee will be paid. The licensed paralegal practitioner is notrequired to remit to the client funds that the licensed paralegal practitionerreasonably believes represent fees owed. However, a licensed paralegalpractitioner may not hold funds to coerce a client into accepting the licensedparalegal practitioner's contention. The disputed portion of the funds must bekept in a trust account, and the licensed paralegal practitioner should suggestmeans for prompt resolution of the dispute, such as arbitration. The undisputedportion of the funds shall be promptly distributed.
 Paragraph (e) also recognizes that thirdparties may have lawful claims against specific funds or other property in alicensed paralegal practitioner's custody. A licensed paralegal practitionermay have a duty under applicable law to protect such third-party claims againstwrongful interference by the client. In such cases, when the third-party claimis not frivolous under applicable law, the licensed paralegal practitioner mustrefuse to surrender the property to the client until the claims are resolved. Alicensed paralegal practitioner should not unilaterally assume to arbitrate adispute between the client and the third party.
 The obligations of a licensed paralegalpractitioner under this Rule are independent of those arising from activityother than rendering legal services. For example, a licensed paralegalpractitioner who serves as an escrow agent is governed by the applicable lawrelating to fiduciaries even though the licensed paralegal practitioner doesnot render legal services in the transaction and is not governed by this Rule.
 A licensed paralegal practitioners? fund for client protectionprovides a means through the collective efforts of the Bar to reimburse personswho have lost money or property as a result of dishonest conduct of a licensedparalegal practitioner. Where such a fund has been established, a licensedparalegal practitioner must participate where it is mandatory, and, even whenit is voluntary, the licensed paralegal practitioner should participate.
Effective November 1, 2018