Local Rule 67.2: DEPOSIT IN COURT

RULE 67.2 DEPOSIT IN COURT

The following procedures apply to deposits into the registry of the court in civil actions.

(a) Receipt of Funds.

(1) No money may be sent to the court or its officers for deposit into the court's registry without an order by a judicial officer.

(2) All money ordered to be paid to the court or received by its officers in any case pending or adjudicated shall be deposited with the Treasurer of the United States in the name and to the credit of this court pursuant to 28 U.S. C. § 2041 through depositories designated by the Treasury to accept such deposit on its behalf.

(3) The party making the deposit or transferring funds to the court's registry shall serve the order permitting the deposit or transfer on the clerk.

(b) Investment of Registry Funds.

(1) Funds on deposit with the court will be placed in interest-bearing instruments in the Court Registry Investment System (CRIS) administered by the Administrative Office the United States Courts, which is the only investment mechanism authorized.

(2) Under CRIS, monies deposited in each case under L.R. 67.2(a) shall be "pooled" together with those on deposit with the Treasury to the credit of other courts in CRIS and used to purchase Government Account Series securities through the Bureau of Public Debt, which will be held at Treasury, in an account in the name and to the credit of the Direct of Administrative Office of the United States Courts, hereby designated custodian for the CRIS.

(3) An account for each case will be established in CRIS titled in the name of the case giving rise to the investment in the fund. Income generated from fund investments will be distributed to each case based on the ratio each account's principal and earnings has to the aggregate principal and income total in the fund. Reports showing the interest earned and the principal amounts contributed in each case will be prepared and distributed to each court participating in CRIS and made available to litigants and/or their counsel.

(c) Deductions of Fees.

(1) The custodian is authorized and directed by this rule to deduct the registry fee for maintaining accounts in CRIS and the investment service fee for the management of investments. The proper registry fee is to be determined on the basis of the rates published by the Director of the Administrative Office of the United States as approved by the Judicial Conference. The investment services fee is assessed from interest earning according to the court's Miscellaneous Fee Schedule.

(2) If registry fees were assessed against the case under the old 45-day requirement prior to deposit in CRIS, no additional registry fee will be assessed.

Effective September 1, 1990; amended effective October 3, 2005; June 7, 2011.