Local Rule 7067-1: Registry Fund - Deposit in Court

LOCAL RULE 7067-1 Registry Fund - Deposit in Court A. Order for Deposit - Interest Bearing Account: Whenever a party seeks a Court order, or the Judge directs, that money be deposited by the Clerk in an interest-bearing account, the party shall personally deliver the order to the Clerk or financial deputy who will inspect the proposed order for proper form and content and compliance with the Rule prior to signature by the Judge for whom the order is prepared.

B. Orders Directing Investment of Funds by Clerk: Any order tendered by a party or parties in an action that directs the Clerk to invest in an interest-bearing account or instrument funds deposited in the registry of the Court pursuant to 28 U.S.C. §2041 shall include the following:

1. The amount to be invested;

2. The name of the depository approved by the Treasurer of the United States as a depository in which funds may be deposited;

3. A designation of the type of account or instrument in which the funds shall be invested; and, 4. Wording which directs the Clerk to deduct from the income earned on the investment a fee, not exceeding that authorized by the Judicial Conference of the United States and set by the Director of the Administrative Office at 10 percent (10%) of the income earned on the investment, whenever such income becomes available for deduction in the investment so held and without further order of the Court.