Comment period for proposed revision of Local Rules 7067-1
Local Rule 7067-1 relates to disbursement of funds deposited with the court. The rule is proposed to be revised to explicitly reflect the existing required fee assessment on registry funds and to include a 14-day waiting period before funds are disbursed in order to allow for appeals from such orders prior to disbursement. Comments are being solicited on the proposed rule change for a thirty day period ending on July 11, 2012. Comments can be submitted to email@example.com. Based on comments received, the Court may reconsider the revision to Local Rule 7067-1.
Local Rule 7067-1, as proposed, states (a redline version is available on the court’s website:
RULE 7067-1 DISBURSEMENT OF FUNDS DEPOSITED WITH THE COURT
General. The clerk shall not disburse funds deposited with the court without an order which:
(1) sets forth the name and address of each payee; and
(2) specifies the amount of principal and interest (if any) to which each payee is
entitled, or a means for ascertaining the same.
Payment by the Clerk. Funds will be disbursed no earlier than 14 days after the date of the court order unless otherwise ordered by the Court. The clerk shall not disburse funds to a payee until a tax identification or social security number for the payee has been received.
Fees Charged on Funds Deposited with the Court. All funds deposited with the court and invested as registry funds will be assessed a charge of 10% of the interest income earned. Fees may be deducted periodically without further order and will be subject to any subsequent exceptions or adjustments by directive of the Administrative Office of the United States Courts.