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:
“It’s a fact that it is much more comfortable to be in the position of the person who has been offended than to be the unfortunate cause of it.”
—Barbara Walters (b. 1931)
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