S. BANKRUPTCY COURT
DISTRICT OF IDAHO
UNCLAIMED FUNDS POLICY STATEMENT
Pursuant to Local Bankruptcy Rule 3011.1 the following procedures will govern the DISBURSEMENT OF UNCLAIMED FUNDS by the Clerk of Court:
1. A party seeking disbursement of unclaimed funds, being held by the Court must file a petition using the Court's prescribed form or a likeness. The Clerk of Court will submit a copy of the completed petition to the U.S. Attorney's Office for the District of Idaho.
2. A petition submitted by a corporation, shall be executed by the President or Chairman of the Board of Directors and accompanied by verification of capacity, i.e., Articles of Incorporation, Board Meeting Minutes, or other appropriate documentation.
3. All petitions must contain the name, address and telephone number of the creditor. Evidence of or any change of ownership must be shown. If applicable, furnish proof of any sale of the company, stating new and prior owner. A copy of the terms of any purchase agreement or stipulation by prior and new owners of right of ownership to the unclaimed funds must be provided. If the claim has been assigned, copies of all documents evidencing assignment must accompany the petition.
4. A representative of an estate of a deceased claimant shall submit certified copies of all probate documents to substantiate the representative's right to act on behalf of the descedent's estate.
5. An original power of attorney must accompany the petition and proposed order if the funds are to be sent to an agent of the claimant. If the creditor submits a petition claiming the same funds, the monies shall be paid to the creditor providing disbursement has not already been made. The creditor's request will be considered a revocation of the agent's power of attorney. If petitions are received from more than one agent and the funds have not been disbursed, no disbursement will be made until the matter has been settled by a hearing before the Court.
6. The financial administrator shall review petitions for completeness and verify funds availability, the amount requested, and claimant. Thirty days after receipt of the petition, if no objection to disbursement has been filed, the proposed order will be presented to the Court. An objecting party must set a hearing before the Court prior to disbursement.
7. The Clerk of Court will make disbursements payable only in the name of the creditor even though submitted by an agent. Disbursement is to be made by registry fund check if the funds are being held in the Court's local bank registry, or by U.S. Treasury check when funds are in the U.S. Treasury trust account.
8. A petition which is not acceptable shall be returned to the claimant or agent thereof with an explanation for the return. Any later petition received will be processed without consideration of a prior petition that was returned.
9. Payments will be posted to the computer ledger upon issuance of a check. The finance department's copy of the trustee's turnover will be augmented to show payments made.
10. The petition and order for disbursement will be docketed and placed in the file. If the case is in the archives, the petition will be filed with the trustee's turnover in the permanent financial file.
Any question regarding unclaimed funds should be made to the Financial Department of the U.S. Bankruptcy Court, U.S. Courthouse and Federal Building, 550 West Fort Street, Boise, Idaho 83724. Telephone number is (208) 334-9397.