Where the money is paid into court to abide the result of any legal proceeding, the judge may order it deposited in one or more designated federally insured state or national banks or savings banks, to the credit of the court in the action or proceeding in which the money was paid. The money, including earned interest, so deposited shall be paid only upon the check of the clerk of the court, annexed to its certified order for the payment, and in favor of the person to whom the order directs the payment to be made. Any interest which may have accrued shall also be paid to that same person.
Rule 67.03.Money paid into court.
Current through June 18, 2026 · Last verified July 9, 2026
In one sentenceWhen money is paid into court to abide the outcome of a case, Rule 67.03 lets the judge order it deposited in an insured bank or savings bank in the court's name, payable only through the clerk's certified check to whoever the court orders paid, principal and interest together.
Full Text of Rule 67.03
Amendment History
(Amended June 30, 1986, effective January 1, 1987; amended August 6, 1990, effective September 15, 1990.)
Plain-English Summary
Money sometimes sits with the court while a lawsuit works its way through -- a disputed deposit, a fund awaiting distribution, proceeds nobody can touch until a judge decides who gets them. Rule 67.03 tells the court what to do with that money while it waits: place it in one or more insured banks or savings banks, held in the court's name for that case.
The rule builds in a check on withdrawals. Nobody pulls the money out informally. It comes out only when the clerk writes a check tied to a certified court order naming the person entitled to payment. Any interest the deposit earned during that time follows the principal to the same person.
Frequently Asked Questions
Who can withdraw money the court is holding under Rule 67.03?
Only the clerk, by check, and only after a certified court order names the person entitled to payment.
Does interest earned on court-held funds go to the parties in Kentucky?
Yes -- any interest accrued on the deposit is paid along with the money to whoever the court's order designates.
What kind of bank can hold money deposited under Rule 67.03?
A federally insured state or national bank or savings bank designated by the judge.
Source & verification. The rule text is reproduced verbatim from the
official Kentucky Rules of Civil Procedure (Ky. R. Civ. P. 67.03). Prescribed by the Supreme Court of Kentucky (Ky. Const. § 116). The plain-English summary is original and written by us. Last verified July 9, 2026. ·
Official source
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