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Registry Funds Investments

Funds may be deposited into the court with a required court order, and must be payable to the 'Clerk, U.S. District Court'. Deposited funds can either be held in the treasury without interest or invested in the Court Registry Investment System (CRIS) where they can earn interest, subject to administrative fees. Disbursements from these funds require a proposed order detailing the distribution of principal and interest, and are made by check only.

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49 views3 pages

Registry Funds Investments

Funds may be deposited into the court with a required court order, and must be payable to the 'Clerk, U.S. District Court'. Deposited funds can either be held in the treasury without interest or invested in the Court Registry Investment System (CRIS) where they can earn interest, subject to administrative fees. Disbursements from these funds require a proposed order detailing the distribution of principal and interest, and are made by check only.

Uploaded by

Allison Smith
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Registry Fund Investments

Deposit of Funds Into the Court


Occasionally, funds may be deposited into the court, usually, in a civil case. A court Order is
required before funds will be accepted and receipted into the registry. The instrument to be
deposited into the court should be payable to "Clerk, U.S. District Court". No third party checks
are accepted. The funds will be deposited into the registry fund of the treasury unless governed
by Fed.R.Civ.P 67, or stipulated to by the parties and approved by the Court directing funds to
be deposited into an interest bearing account. The Western District of Wisconsin utilizes the
CRIS System (link to general order).

Held in the Treasury


Funds deposited directly into the treasury will be held by the court, referencing the case number
and style. No interest is earned or accrued when held in the treasury. Upon order of the court the
funds are disbursed as directed by the clerk's office.

CRIS Registry Investment (Interest bearing)


Funds deposited by stipulation or under Rule 67 will be invested in the Court Registry
Investment System (CRIS) (link to general order) administered by the District of Texas. An
investment account will be opened for each deposit by the court referencing the specific case
number and style. The funds are normally deposited weekly.
Funds are disbursed only upon an order of the court and are subject to an administrative fee
pursuant to the General Order of November 15, 2005. The administrative fee assessed is
typically 10% of the interest earned. A proposed order for disbursement of the funds must
contain the following information:
~The principal sum initially deposited.
~The amount or percentage of principal to be disbursed to each party.

~The percentage of accrued interest to be disbursed to each party, subject to the


deduction of the Court's administrative fee.
~To whom exactly each disbursement check should be made payable.
~Full mailing instructions for each disbursement check, including full street address and
zip code.
~The social security number or tax ID number of each recipient of accrued interest,
which will be used to issue 1099's at year end.
Disbursements from the investment accounts will be made by check as the business of the clerk's
office allows; no wire transfers are permitted. The court maintains the balances of each
investment account weekly. The court prefers that disbursement orders do not try to reference
current balances in the accounts at the time the order is proposed, since several days will pass
between the time the proposed order is filed, signed, docketed and disbursed, additional interest
will accrue. Exact amounts of the principal may be referenced with directives on the division of
interest (prorated, percentage, etc.). Normally, the investment account is not closed until shortly
before the actual check(s) are disbursed in order to maximize interest earned.

Post Judgment Interest Rates

The most recent rate applicable can be found at:


http://www.federalreserve.gov/releases/h15/current
/
Prior rates:
http://www.federalreserve.gov/releases/h15/

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