Acknowledgment Receipt Of Order And Deposit For The Benefit Of An Infant

ACKNOWLEDGMENT OF RECEIPT OF ORDER AND DEPOSIT FOR THE BENEFIT OF AN INFANT. This form is used in the Supreme Court of the State of New York, County of Westchester, to confirm compliance with an Infant Compromise Order. When a settlement is reached on behalf of a minor in a lawsuit, the court requires that the settlement funds be deposited into a federally insured, interest-bearing restricted account for the child’s benefit. This form formally acknowledges that the court’s order has been received and that the funds have been deposited into such an account. The form requires details such as the name on the account (usually the parent or guardian with a bank officer), the depository institution, the branch address, the last four digits of the account number, the date the account was opened, and the amount of the initial deposit. It also confirms that no withdrawals of principal or interest can be made before the child turns 18, unless authorized by a separate court order. www.FormsWorkflow.com