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Current as of January 01, 2023 | Updated by FindLaw Staff
1. In all actions against any bank or trust company to recover for moneys on deposit or property left in a safe deposit box 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 the bank or trust company, and upon eight days' notice to the plaintiff and the claimants, and without proof as to the merits of the claim, make an order amending the proceeding in the action by making the claimants parties defendant thereto; and the court shall thereupon proceed to determine the rights and interests of the several parties to the action in and to the property. The remedy provided in this section shall be in addition to and not exclusive of remedies now or hereafter existing.
2. The funds on deposit or property which are the subject of the action may remain with the bank or trust company subject to the order of the court until final judgment therein, and, if deposits, be entitled to the same interest as other deposits of the same class, and shall be paid by the bank or trust company in accordance with the final judgment of the court; or in the discretion of the court, the deposit or property in controversy may be paid into or placed with the court to await the final determination of the action, and when the deposit or property is so paid into or placed with the court the bank or trust company shall be struck out as a party to the action, and its liability for the deposit or property shall cease.
3. The costs in all actions against a bank or trust company to recover deposits or property shall be in the discretion of the court, and may be charged upon the fund or property affected by the action.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 362.360. Interpleader in certain actions--funds may remain in bank--costs - last updated January 01, 2023 | https://codes.findlaw.com/mo/title-xxiv-business-and-financial-institutions/mo-rev-st-362-360/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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