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.
Read more about this topic: Paymaster
Famous quotes containing the word position:
“Einstein is loved because he is gentle, respected because he is wise. Relativity being not for most of us, we elevate its author to a position somewhere between Edison, who gave us a tangible gleam, and God, who gave us the difficult dark and the hope of penetrating it.”
—E.B. (Elwyn Brooks)