(a) Every town justice and village justice, including acting village justices, shall deposit, as soon as practicable, all monies received in his or her judicial capacity in a separate bank account in his or her name as such judicial officer, in a bank or trust company in this State, pending disposition as required by law. In no event shall any deposit be made later than 72 hours, exclusive of Sundays and holidays, from the day of receipt.

(b) Withdrawals from such accounts shall be only for purposes permitted by law.

(c) Every justice now having such a bank account or required by subdivision (a) of this section to open such a bank account shall, within 10 days after the effective date of this rule [Jan. 6, 1986], or within 10 days after the opening or transfer of such a bank account, notify the Chief Administrator of the Courts in writing of the name and address of the bank in which the account has been opened or transferred to, the title of the account, the account number and the date that said account was opened or transferred. If, for any reason, the justice, during his or her tenure, shall close or transfer said account to a different bank, within 10 days of such closing or transfer written notification, stating the reasons therefor, shall be given to the Chief Administrator.

(d) With the consent of all the justices of a town or village, a joint account in the names of all the justices may be opened for the deposit of bail monies only. Such an account shall in all other respects comply with the provisions of this section.

(e) The provisions of this section shall not apply to a justice who does not actually receive monies in a judicial capacity, providing he or she files with the Chief Administrator a written statement setting forth the fact that he or she does not receive monies in a judicial capacity and the reasons therefor.