Rule 260 - Money Paid Into Court(a) Where it is appropriate that money be paid into court, the court on petition of any party or on its own motion may direct the same to be done. A petition for the payment of money into court shall set forth the reasons for requesting such action and the exact amount to be paid. Notice of the presentation of such a petition shall be given in the manner set forth in these rules.(b) The clerk of courts shall have custody of all money paid into court and shall deposit such funds in an escrow account to the credit of the court in a bank or banks in which deposits are insured by the Federal Deposit Insurance Corporation. Upon motion of a person who appears from the record to be prima facie interested in money paid into court, the court may authorize the clerk of courts to invest the fund in such manner and upon such terms as the court may direct.(c) Money paid into court may not be withdrawn or paid out except upon written order of court.Amended effective 1/1/2020; amended effective 7/1/2023.Comment
This rule does not apply to cash bail or to payment of advanced costs such as masters' fees.