Law Foundation of Saskatchewan

 Source of Funds

All Saskatchewan lawyers who hold money in trust for clients generally - rather than in special trust accounts - must deposit the money in an interest bearing account, with the interest to be held in trust for the Foundation.   Before 1971, no interest was paid on these "mixed trust accounts".

The Foundation's income depends entirely on the prime rate of interest established by the chartered banks and other financial institutions with which Saskatchewan lawyers do business.   Over the years, the prime rate has fluctuated from a high of 22-3/4% in 1981 to a low of 3-3/4% in 2002 and 2004.

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