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Mississippi Order Regarding Deposit and Investment of Registry Funds

Mississippi Order Regarding Deposit and Investment of Registry Funds

Category:

Federal - District Court - Southern District

State:

Mississippi

Control #:

MS-SKU-0132

Format:

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Order Regarding Deposit and Investment of Registry Funds
The Mississippi Order Regarding Deposit and Investment of Registry Funds is a set of regulations that govern the deposit and investment of funds held in a court registry. The order requires that all funds be deposited in a financial institution located in the state of Mississippi and that all deposits must be collateralized in accordance with state and federal laws. The order also requires that all funds be invested in accordance with the Mississippi Uniform Prudent Investor Act. There are three types of Mississippi Order Regarding Deposit and Investment of Registry Funds: 1) General Order Regarding Deposit and Investment of Registry Funds; 2) Order Regarding Deposit and Investment of Registry Funds (DUI/DWI); and 3) Order Regarding Deposit and Investment of Registry Funds (Closing).

The Mississippi Order Regarding Deposit and Investment of Registry Funds is a set of regulations that govern the deposit and investment of funds held in a court registry. The order requires that all funds be deposited in a financial institution located in the state of Mississippi and that all deposits must be collateralized in accordance with state and federal laws. The order also requires that all funds be invested in accordance with the Mississippi Uniform Prudent Investor Act. There are three types of Mississippi Order Regarding Deposit and Investment of Registry Funds: 1) General Order Regarding Deposit and Investment of Registry Funds; 2) Order Regarding Deposit and Investment of Registry Funds (DUI/DWI); and 3) Order Regarding Deposit and Investment of Registry Funds (Closing).

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This Order supersedes and abrogates all prior orders of this Court regarding the deposit and investment of registry funds. General Order 16-14.(3) "Registry funds" means funds tendered to the clerk for deposit into the registry of the court. An account for each case will be established in CRIS titled in the name of thecase giving rise to the investment in the fund. The court routinely orders funds to be deposited into the registry of the court, into an interest bearing account, or to the highest interest bearing account. The Court Registry handles deposits of: Funds for a minor awarded in a District Court case. INVESTMENT OF FUNDS FOR MINORS (Ref: Property Code Sec. Paragraph 21 of the Receivership Order prohibits a bank from withholding funds on deposit for any of the Receivership Entities from the Receiver. Motion and Order or Letter Requesting to Withdraw Money from the Registry; Guardian's State Issued Photo ID or Passport. In order to deposit funds in the registry of the Court a party must present an order of the Court authorizing the deposit.

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