CANB — General Order 26: Deposits Into the Registry of the Courts

Source: https://www.canb.uscourts.gov/sites/default/files/general-orders/general_order_26_0.pdf

United States Bankruptcy Court Northern District of California

IN THE MATTER OF § DEPOSITS INTO THE § REGISTRY OF THE COURTS § GENERAL ORDER NO. 26 AND ABROGATION OF § GENERAL ORDER NO. 24 §

AMENDED ORDER REGARDING

DEPOSIT AND INVESTMENT OF REGISTRY FUNDS

The Court, having determined that it is necessary to amend local procedures to reflect the

transition of accountability and administration of the Court Registry Investment System

(“CRIS”) from the United States District Court for the Southern District of Texas to the

Administrative Office of the United States Courts pursuant to this Order, as well as ensure the

continued uniformity in the deposit and investment of funds in the Court’s Registry,

IT IS ORDERED that the following shall govern the transfer, receipt, deposit and

investment of registry funds:

I. Transfer of Funds.

All funds existing in the Court Registry which are on deposit and invested in CRIS administered by the United States District Court for the Southern District of Texas shall be transferred to the custody and control of CRIS administered by the Administrative Office of the United States Courts, and be subject to the investment and fee deduction provisions of Paragraphs III and IV of this Order. Each deposit transferred will relate back to its original date of deposit in CRIS administered by the United States District Court for the Southern District of Texas.

II. Receipt of Funds

A. No money shall be sent to the Court or its officers for deposit in the Court’s
registry without a court order signed by the presiding judge in the case or
proceeding.

B. Unless provided for elsewhere in this Order, all monies ordered to be paid to the
Court or received by its officers in any case pending or adjudicated shall be
deposited with the Treasurer of the United States in the name and to the credit of
this Court pursuant to 28 U.S.C. § 2041 through depositories designated by the
Treasury to accept such deposit on its behalf.

C. The party making the deposit or transferring funds to the Court’s registry shall serve the order permitting the deposit or transfer on the Clerk of Court.

III. Investment of Registry Funds

A. Where, by order of the Court, funds on deposit with the Court are to be placed in
some form of interest-bearing account, CRIS, administered by the Administrative
Office of the United States Courts, shall be the only investment mechanism
authorized.

B. Money from each case deposited in CRIS shall be “pooled” together with those
on deposit with Treasury to the credit of other courts in CRIS and used to
purchase Government Account Series securities through the Bureau of Public
Debt, which will be held at Treasury, in an account in the name and to the credit
of the Director of Administrative Office of the United States Courts, hereby
designated as custodian for CRIS.

C. An account for each case will be established in CRIS titled in the name of the
case giving rise to the investment in the fund. Income generated from fund
investments will be distributed to each case based on the ratio each account’s
principal and earnings has to the aggregate principal and income total in the fund.
Reports showing the interest earned and the principal amounts contributed in each
case will be prepared and distributed to each court participating in CRIS and
made available to litigants and/or their counsel.

IV. Deductions of Fees

A. The custodian is authorized and directed by this Order to deduct the registry fee
for maintaining accounts in CRIS and the investment services fee for the
management of investments. The proper registry fee is to be determined on the
basis of the rates published by the Director of the Administrative Office of United
States Courts as approved by the Judicial Conference. The investment services
fee is assessed from interest earning according to the Court’s Miscellaneous Fee
Schedule.

B.. If registry fees were assessed against the case under the old 45-day requirement
prior to deposit in CRIS, no additional registry fee will be assessed.

V. Transition From Former Investment Procedure

This Order shall become effective May 19, 2011, and supercedes and abrogates all prior orders of this Court regarding the deposit and investment of registry funds.

IT IS SO ORDERED.

DATE: May 13, 2011

Alan Jaroslovsky ChiefSJudge