Local Rule Local Admiralty Rule C.1: Intangible Property
E.D.N.Y. — Civil rule
Local Admiralty Rule C.1. Intangible Property
The summons issued under Supplemental Rule C(3)(c) must direct the person having control of freight or proceeds of property sold or other intangible property to show cause at least 14 days after service (unless the court, for good cause shown, shortens the period) why the intangible property should not be delivered to the court to abide the judgment. The person who is served may deliver or pay over to the marshal the intangible property proceeded against to the extent sufficient to satisfy the plaintiff's claim. If that delivery or payment is made, the person served is excused from the duty to show cause.
[Source: Former Local Admiralty Rule 2]