Requirements For Position
In the United States, there is no licensing requirement to be a paymaster. However, a paymaster often is a licensed lawyer, due to the security and safety issue that lawyers in the U.S. are required to hold any funds that do not belong directly to them in a "Attorney's Trust Account" (also known as an IOLTA account), which is monitored by the state bar, in the state in which the lawyer practices.
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Famous quotes containing the word position:
“From a purely external point of view there is no will; and to find will in any phenomenon requires a certain empathy; we observe a man’s actions and place ourselves partly but not wholly in his position; or we act, and place ourselves partly in the position of an outsider.”
—T.S. (Thomas Stearns)