In all actions against any trust company to recover moneys on deposit therewith if there be any person or persons, not parties to the action, who claim the same fund, the court in which the action is pending, may, on the petition of such trust company, and upon eight (8) days’ notice to the plaintiff and such claimants, and without proof as to the merits of the claim, make an order amending the proceedings in the action by making such claimants parties defendant thereto; and the court shall thereupon proceed to determine the right and interests of the several parties to the action in and to such funds. The remedy provided in this section shall be in addition to and not exclusive of that provided by the Code of Civil Procedure.
The funds on deposit which are the subject of such action may remain with such trust company to the credit of the account until final judgment therein and be entitled to the same interest as other deposits of the same class, and shall be paid by such trust company in accordance with the final judgment of the court; or the deposit in controversy may be paid into court to await the final determination of the action; and when the deposit is so paid into court the trust company shall be struck out, as a party to the action, and its liability for such deposit shall cease.
The costs in all actions against a trust company to recover deposits shall be in the discretion of the court, and may be charged against the fund affected by the action.
History —Apr. 23, 1928, No. 40, p. 234, § 20, eff. 90 days after Apr. 23, 1928.