The first annual meeting of the Colorado Bar Association was held in Colorado Springs, July 6 and 7, 1898. At the meeting, a Code of Ethics previously adopted by the Alabama Bar Association was adopted by the Colorado Bar. Among its 55 sections was the following provision:

"47. Men, as a rule, over-estimate rather than under-value the worth of their services, and attorneys in fixing their fees should avoid charges which unduly magnify the value of their advice and services, as well as those which practically belittle them. A client’s ability to pay can never justify a charge for more than the service is worth; though his poverty may require a less charge in many instances, and some times none at all."