N.D. Ohio LR 67.1

Funds on deposit with the Court are to be placed in some form of interest-bearing account

or invested in a court-approved, interest-bearing instrument in accordance with Rule 67 of the

Federal Rules of Civil Procedure. The Court Registry Investment System (“CRIS”), administered

by the Administrative Office of the United States Courts under 28 U.S.C. ' 2045, shall be the

only investment mechanism authorized.

Whenever a party seeks a court order for money to be deposited by the Clerk into an

interest-bearing account, the party shall file a motion and attach a proposed order with the Court,

“Order of Deposit and Investment,” in the form provided in Appendix D-1, which directs the

Clerk to invest the funds in Government Account Series securities through the CRIS. After filing

the proposed order but prior to signature by the Judge for whom the order is prepared, the

proposed order will be forwarded to the Finance Department for review to ensure compliance

with this rule.

When a party seeks a court order authorizing the deposit of interpleader funds pursuant to

28 U.S.C. § 1335, the party shall file a motion and attach a proposed order with the Court,

“Order of Deposit and Investment 28 U.S.C. § 1335 Interpleader Funds,” in the form provided in

Appendix D-2, which directs the Clerk to invest the funds in the Disputed Ownership Fund

(“DOF”) through the CRIS. After filing the proposed order but prior to signature by the Judge

for whom the order is prepared, the proposed order will be forwarded to the Finance Department

for review to ensure compliance with this rule.

Funds deposited on behalf of a minor (under the age of 18) will be deposited into the

CRIS Minors’ Fund to match investment holdings with the longer holding periods associated

with post-adjudicated minors’ cases, while the beneficiary awaits the age of majority.

Pursuant to General Order No. 2016-25, the custodian is directed to deduct from the

income earned on the investment a fee as prescribed by the Judicial Conference of the United

States and set by the Director of the Administrative Office of the Court. For handling of registry

funds invested through the CRIS, a fee at an annual rate of 10 basis points of assets on deposit

shall be assessed from interest earnings, excluding registry funds from disputed ownership

interpleader cases deposited under 28 U.S.C. § 1335, and held in a Court Registry Investment

System Disputed Ownership Fund.

Interpleader funds invested pursuant to 28 U.S.C. § 1335 through the Court Registry

Investment System Disputed Ownership Fund are subject to the DOF fee. The custodian of the

DOF is authorized to deduct the DOF fee of an annualized 20 basis points on assets on deposit

for the management of investments and tax administration. The DOF fee is assessed from

interest earnings to the pool of investments before a pro rata distribution of earnings is made to

court cases.