[Code of Federal Regulations]
[Title 37, Volume 1]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 37CFR10.112]

[Page 363]
 
              TITLE 37--PATENTS, TRADEMARKS, AND COPYRIGHTS
 
                         DEPARTMENT OF COMMERCE
 
PART 10--REPRESENTATION OF OTHERS BEFORE THE PATENT AND TRADEMARK OFFICE--Table of Contents
 
Sec. 10.112  Preserving identity of funds and property of client.

    (a) All funds of clients paid to a practitioner or a practitioner's 
firm, other than advances for costs and expenses, shall be deposited in 
one or more identifiable bank accounts maintained in the United States 
or, in the case of a practitioner having an office in a foreign country 
or registered under Sec. 10.6(c), in the United States or the foreign 
country.
    (b) No funds belonging to the practitioner or the practitioner's 
firm shall be deposited in the bank accounts required by paragraph (a) 
of this section except as follows:
    (1) Funds reasonably sufficient to pay bank charges may be deposited 
therein.
    (2) Funds belonging in part to a client and in part presently or 
potentially to the practitioner or the practitioner's firm must be 
deposited therein, but the portion belonging to the practitioner or the 
practitioner's firm may be withdrawn when due unless the right of the 
practitioner or the practitioner's firm to receive it is disputed by the 
client, in which event the disputed portion shall not be withdrawn until 
the dispute is finally resolved.
    (c) A practitioner shall:
    (1) Promptly notify a client of the receipt of the client's funds, 
securities, or other properties.
    (2) Identify and label securities and properties of a client 
promptly upon receipt and place them in a safe deposit box or other 
place of safekeeping as soon as practicable.
    (3) Maintain complete records of all funds, securities, and other 
properties of a client coming into the possession of the practitioner 
and render appropriate accounts to the client regarding the funds, 
securities, or other properties.
    (4) Promptly pay or deliver to the client as requested by a client 
the funds, securities, or other properties in the possession of the 
practitioner which the client is entitled to receive.

(Approved by the Office of Management and Budget under control number 
0651-0017)