INVESTMENT OF FUNDS ON DEPOSIT

(a) (b) Unless the court orders otherwise, funds on deposit in the court’s Registry Account under to 28 U.S.C. § 2041 will be invested in an interest-bearing account established by the clerk. All motions or stipulations for an order directing the clerk to invest Registry Account funds in an account other than the court’s standard interest-bearing account must contain the following: (1) (2) The name of the bank or financial institution where the funds are to be invested; The type of account or instrument and the terms of investment where a timed instrument is involved; and (3) Language that either: (A) Directs the clerk to deduct from 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; or (B) States affirmatively the investment is being made for the benefit of the United States and, therefore, no fee may be charged. 67 (c) (d) (e) (f) (g) (h) (i) An attorney or pro se party obtaining an order under these rules must cause a copy of the order to be served personally on (1) the clerk or (2) the chief deputy and the financial deputy. A supervisory deputy clerk may accept service on behalf of the clerk, chief deputy, or financial deputy in their absence.

The clerk must take all reasonable steps to deposit funds into interest-bearing accounts or instruments within 14 days after service of the order for such investment. An attorney or pro se party who obtains an order directing investment of funds by the clerk must, within 14 days after service of the order on the clerk, verify the funds were invested as ordered. An attorney or pro se party’s failure to personally serve (1) the clerk or (2) the chief deputy and the financial deputy, or in their absence a supervisory deputy clerk, with a copy of the order, or failure to verify investment of the funds, will release the clerk from any liability for lost earned interest on the funds. An attorney or pro se party must notify the clerk regarding disposition of funds at maturity of a timed instrument.

In the absence of such notice, funds invested in a timed instrument subject to renewal must be reinvested for a like period of time at the prevailing interest rate. Funds invested in a timed instrument not subject to renewal will be deposited by the clerk into the court’s Registry Account. Service of notice by an attorney or pro se party required by LR 67-2(g) must be made as provided in LR 67-2(c) not later than 14 days before maturity of the timed instrument. Any change in terms or conditions of an investment must be only by court order, and an attorney or pro se party must comply with LR 67-2(b) and (c).