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:
“Only the other day I was inquiring of an entire bed of old- fashioned roses, forced to listen to my ramblings on the meaning of the universe as I sat cross-legged in the lotus position in front of them.”
—Prince Charles (b. 1948)