Local Rule 67.2: Moneys Deposited in the Custody of the Court

RULE 67.2. Moneys Deposited in the Custody of the Court.

(a) Cases Not Covered by Fed. R. Civ. P. 67 -- Registry Accounts. The funds shall be kept in a registry account and shall be deposited into an interest bearing account in accordance with the general policy governing registry funds, unless otherwise ordered by the Court.

(b) Cases Covered by Fed. R. Civ. P. 67. The party depositing the money shall prepare a proposed order to be submitted to the Court which instructs the Clerk to deposit the funds. All orders to deposit money must be personally served on either the Clerk, Chief Deputy Clerk or Financial Administrator. It is recommended that the Clerk's Office be contacted for information and copies of proposed orders for depositing funds with the Court.

(c) Money Invested at Interest. The Clerk shall make the investment promptly after being advised the check has cleared. If the funds deposited into the Court must be held pending verification that the institution depositing the funds has pledged sufficient collateral pursuant to Treasury Circular No. 176, the Clerk shall have 7 days from the date of notice that the designated depository has complied with the collateralization requirements to make the investment, during which time the obligation to invest at interest shall not attach.

(d) Fee Deducted by the Clerk. In all cases or proceedings where money is to be invested at interest, the Clerk shall deduct from the income earned on the investment a fee, whenever such income becomes available and without further order of the Court. In cases where funds are ultimately disbursed to the United States or to agencies or officials thereof, the Clerk shall refund the registry fee to those agencies or officials of the United States upon application filed with the Court.