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Louisiana attorney question
Posted on 7/17/20 at 6:57 am
Posted on 7/17/20 at 6:57 am
Is it unethical or illegal for a Louisiana attorney to borrow money from his client? It is in some states.
5
Posted on 7/17/20 at 7:39 am to CharleyLake
I do not think there is a specific rule in LA prohibiting this but IMO, it would be unwise to do so.
Posted on 7/17/20 at 7:57 am to CharleyLake
Lawyers borrow money from their bank clients all the time. One of the rules of professional conduct specifically addresses business transactions with clients and the steps that have to be taken.
Posted on 7/17/20 at 11:10 am to CharleyLake
Hopefully your daughter didn't work for First NBC...
Posted on 7/17/20 at 11:16 am to CharleyLake
Because the loan is interest free, 1.8(c) might cause them some problems. And I imagine the ODC wouldn't be terribly interested in their protestations regarding whether that would constitute "substantial".
ETA:
ETA:
quote:
A lawyer shall not solicit any substantial gift from a client, including a testamentary gift,
or prepare on behalf of a client an instrument giving the lawyer or a person related to the
lawyer any substantial gift unless the lawyer or other recipient of the gift, is related to the
client. For purposes of this paragraph, related persons include a spouse, child, grandchild,
parent, or grandparent.
This post was edited on 7/17/20 at 11:17 am
Posted on 7/17/20 at 1:31 pm to CharleyLake
i don't think there is a specific rule against this, but i could see them interpreting one. like how we don't have an explicit rule against having sex with clients but the LASC interpreted it. i reckon it would be seen as a conflict of interest at the least.
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