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:
“He who is usually self-sufficient becomes exceptionally vain and keenly alive to fame and praise when he is physically ill. The more he loses himself the more he has to endeavor to regain his position by means of the opinion of others.”
—Friedrich Nietzsche (1844–1900)
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