(1) Interest-Bearing Pooled Trust Accounts. In addition to any individual client trust accounts, a member of the New Hampshire Bar who is not exempt from this requirement pursuant to Rule 50(1)(F) shall create or maintain a pooled, interest-bearing trust account known as "Interest on Lawyers Trust Accounts program" or "IOLTA" account for clients' funds which are nominal in amount or to be held for a short period of time and must comply with the following provisions:
A. An interest-bearing trust account shall be established with any bank, savings and loan association, or credit union authorized by federal or State law to do business in New Hampshire and insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the Nation