Local Rule 7067. REGISTRY FUNDS

(a) Deposit of registry funds.

(1) No money will be sent to the court or the clerk for deposit into the court's registry without a court order.

(2) The order must be prepared by the party seeking the order of deposit. The order must state the exact amount to be deposited, that the funds are to be deposited into an interest-bearing account, and that the funds will remain on deposit until further order of the court. Additionally, the order must contain the following provision:

"IT IS ORDERED that the clerk is directed 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, whenever such income becomes available for deduction in the investment so held and without further order of the court."

(3) The funds must be submitted to the clerk by check or money order made payable to "U. S. Bankruptcy Court" in the exact amount specified in the court order.

(b) Notice to clerk. Whenever the court orders that money deposited into court must be deposited by the clerk in an interest-bearing account, the party seeking the order must, within fourteen (14) days, personally serve a copy of the order upon the clerk. Failure of the party seeking an order of deposit to an interest-bearing account to serve the clerk or chief deputy with a copy of the order will release the clerk from liability for loss of interest upon the money subject to the order of deposit.

(c) Authorized depositories. Unless otherwise ordered by the court, the clerk must deposit money pursuant to an order of deposit in any institution authorized by the court. The clerk may also invest such money in United States Treasury bills.

(d) Timing of deposit. The clerk must deposit the money pursuant to an order of deposit within fourteen (14) days following service of a copy of the order by the party seeking the order.

(e) Fees charged on registry funds. All funds deposited on or after December 1, 1990, and invested as registry funds will be assessed pursuant to the guidelines established by the Judicial Conference. Fees may be deducted periodically without further order and will be subject to any subsequent exceptions or adjustments by the directive of the Administrative Office of the United States Courts.

(f) Disbursements of registry funds.

(1) The clerk will disburse funds on deposit in the registry of the court only pursuant to court order.

(2) The disbursement order must contain a provision relieving the clerk from liability for loss of interest, if any, for early withdrawal of the funds. The order must state the name and taxpayer identification number for each party who is to receive funds, the mailing address of each party, and the amount each party is to receive. Funds will be disbursed only after the time for appeal of the related judgment or order has expired, or upon approval by the court of a written stipulation signed by all parties. Due to privacy protection of court filings under Fed. R. Bankr. P. 9037 and the court’s privacy policy, a party’s social security number may be sent to the court's finance department instead of being included in the disbursement order. The finance department’s contact information will be available on the contact information page on the court’s website.

(g) Non-cash collateral. Pursuant to a court order, bonds or other types of non-cash collateral can be accepted by the clerk. These instruments can be released with a court order.