Professional Ethics Law 4th Year LLBK 411: Rules governing joint-interest earning deposit accounts

Institution: Kisii University

Course: Bachelor of Law

Content Category: Summaries

Posted By: nyamwange

Document Type: PDF

Number of Pages: 8

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Summary

Rules governing joint-interest earning deposit accounts.

Brief Overview:

Rules governing joint-interest earning deposit accounts

The rules governing opening of clients’ accounts by advocates are outlined by the Advocates Act Subsidiary Legislation on the Advocates (Accounts) Rules, 1966.
The rules define a “client” as any person on whose account an advocate holds or receives client’s money; “client account” as a current or deposit account at a bank or with a building
Society or a financial institution (as defined in the Banking Act (Cap. 488)) in the name of
The advocate but in the title of which either the word “client” or the word “trust” appears;
“client’s money” as money held or received by an advocate on account of a person for whom he is acting in relation to the holding or receipt of such money either as an advocate or, in connexion with his practice as an advocate as agent, bailee, trustee, stakeholder or in any other capacity, and includes:
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