Each district court clerk shall open a trust fund checking account, designated as the "court clerk trust account," in a bank which is a member of the federal deposit insurance corporation. Not later than two working days after receipt, the district court clerk shall deposit to this account all money which belongs to a litigant and all money which might be refunded to a litigant. Whenever the district court, by written order filed with the clerk, authorizes payment of money to a litigant from the court clerk trust account, the district court clerk shall issue his check on the account in accordance with the order. As prescribed by regulation of the director of the administrative office of the courts, money in the court clerk trust account may be invested by the district court clerk in obligations of the United States or in federally insured bank or savings and loan association savings accounts.
History: 1953 Comp., § 16-3-24, enacted by Laws 1968, ch. 69, § 38.
ANNOTATIONSCross references. — For rule governing litigant funds, see 1-102 NMRA.
Repeals and reenactments. — Laws 1968, ch. 69, § 69, repealed former 16-3-24, 1953 Comp., relating to disposition of court fund surplus.
Interest should be awarded to owner of principal. — Due process may require regulations awarding the interest on the trust fund account to the owner of the principal. 1976 Op. Att'y Gen. No. 76-25.
Court use of litigant money. — Litigant money is to be deposited in a "court clerk trust account." This is a trust account. Therefore, the income from this trust must inure to the benefit of the trust, and the income may not be retained by a district court for its use or benefit. 1968 Op. Att'y Gen. No. 68-77.