US · rules
E.D.N.Y. Local Civil Rule 67.1
Order for Deposit in Interest-Bearing Account
(a) Whenever a party seeks a court order for money to be deposited by the clerk in an
interest-bearing account, the party must file the proposed order. The clerk must
inspect the proposed order for proper form and content and compliance with this
rule before submission to the judge for signature.
(b) Proposed orders directing the clerk to invest such funds in an interest-bearing
account or other instrument must include the following:
(1) The exact United States dollar amount of the principal sum to be invested;
and
(2) Wording that directs the clerk to deduct from the income on the investment a
fee consistent with that authorized by the Judicial Conference of the United
States and set by the Director of the Administrative Office.
(c) Unless ordered otherwise by the court, interpleader funds must be deposited in
the Disputed Ownership Fund in an interest-bearing account. Income generated
from fund investments in each case will be distributed after the appropriate fee has
been applied and tax withholdings have been deducted from the fund.
For relevant historical context for this local rule, consult the Appendix of Committee Notes.
History
PRE-2024 COMMITTEE NOTE Local Civil Rule 67.1 contains useful provisions concerning orders for the deposit of money into interest-bearing accounts which supplement the provisions of Fed. R. Civ. P. 67(a). The Committee recommends a clarifying change to Local Civil Rule 67.1(a) in order to make clear that what is required is delivery of the proposed order directly to the Clerk or the Financial Deputy, not personal delivery to them in the sense of hand delivery. 2018 COMMITTEE NOTE Local Civil Rule 67.1 contains practical provisions concerning orders for the deposit of money into interest-bearing accounts which supplement the provisions of Fed. R. Civ. P. 67(a). The Committee recommends revision to Local Civil Rule 67.1(a) to conform to the new requirement for the electronic filing and subsequent processing of a proposed order for the deposit of funds. The Committee recommends revision to Local Civil Rule 67.1(b)(2) for consistency with S.D.N.Y. Standing Order M10-1468 [11-MC-173 (LAP)]. The Committee recommends the addition of Local Civil Rule 67.1(c) in order to address the tax administration requirements for certain Court Registry interpleader funds deposited pursuant to 28 U.S.C. § 1335.
Provenance
- Source
- www.nyed.uscourts.gov
- Retrieved
- 2026-09-18
- Edition
- fed-district-2026-09-18
- Content hash
90922c1f858562fae3ad861d7766a7ff61271af834822d78f54b5c81d5540c2e
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