3011-1

RULE 3011-1 UNCLAIMED FUNDS [Modified 8/23/10]

 

(a) Procedure for Deposit of Unclaimed Funds

 

(1) Unclaimed funds in excess of $25.00 received by the Court shall be deposited in the Treasury registry fund, or otherwise as directed by the Judicial Conference. Unclaimed funds of $25.00 or less shall be deposited directly with the United States Treasury.

 

(2) Upon receipt of the items and/or information specified in subparagraphs (A) through (C) below, a ledger shall be established and maintained by the financial department of the clerk’s office containing information described in paragraph (3) below:

 

(A) a check for unclaimed funds;

 

(B) a declaration that the check has not been cashed within ninety (90) days or was returned as address unknown; and

 

(C) the name, address and amount owed the creditor.

 

(3) For each unclaimed fund creditor, a ledger containing the following information shall be maintained:

 

(A) the name of the debtor(s);

 

(B) the bankruptcy case number;

 

(C) the name and address of the creditor(s) whose unclaimed funds have been deposited; and

 

(D) the amount owed.

 

(4) The Financial Administrator shall also maintain a copy of the trustee’s or debtor’s forwarding letter, the check, and the receipt, in a separate file available for public inspection.

 

(b) Procedure for Payment of Unclaimed Funds. Unclaimed fund petitioners who file five (5) or more petitions for unclaimed funds in a twelve month period are required to file such petitions and supporting documentation electronically in the Court's electronic filing system, or request an exemption pursuant to R.I. Local Rule 5005-4.

 

(1) A court order must be obtained before the Clerk of court may disburse unclaimed funds.

 

(2) The following documentation is required to obtain a court order to disburse unclaimed funds:

 

(A) Petition for Payment of Unclaimed Funds substantially similar to R.I. Bankr. Form E;

 

(B) Satisfactory completion of the appropriate identification form for unclaimed dividends, see R.I. Bankr. Forms F.1 or F.2; and

 

(C) Such other documentation establishing proof of ownership as the Court may direct.

 

(3) Upon receipt of the required documents described in paragraph (2) above, copies of which shall also be served upon the United States attorney via regular first class mail, a twenty-one (21) day deadline shall be fixed for the filing of objections (plus an additional three (3) days for mail). If no objection(s) is timely filed, and the application and documentation is determined to be complete and satisfactory, the Financial Administrator shall obtain a court order approving the payment. If an objection to the petition is timely received, the matter shall be set for hearing.