362.360. Interpleader in certain actions--funds may remain in bank--costs. - Missouri Statutes

Interpleader in certain actions--funds may remain in bank--costs.

362.360. 1. In all actions against any bank or trustcompany to recover for moneys on deposit or property left in asafe deposit box therewith, if there be any person or persons,not parties to the action, who claim the same fund, the court inwhich the action is pending may, on the petition of the bank ortrust company, and upon eight days' notice to the plaintiff andthe claimants, and without proof as to the merits of the claim,make an order amending the proceeding in the action by making theclaimants parties defendant thereto; and the court shallthereupon proceed to determine the rights and interests of theseveral parties to the action in and to the property. The remedyprovided in this section shall be in addition to and notexclusive of remedies now or hereafter existing.

2. The funds on deposit or property which are the subject ofthe action may remain with the bank or trust company subject tothe order of the court until final judgment therein, and, ifdeposits, be entitled to the same interest as other deposits ofthe same class, and shall be paid by the bank or trust company inaccordance with the final judgment of the court; or in thediscretion of the court, the deposit or property in controversymay be paid into or placed with the court to await the finaldetermination of the action, and when the deposit or property isso paid into or placed with the court the bank or trust companyshall be struck out as a party to the action, and its liabilityfor the deposit or property shall cease.

3. The costs in all actions against a bank or trust companyto recover deposits or property shall be in the discretion of thecourt, and may be charged upon the fund or property affected bythe action.

(RSMo 1939 § 7979, A.L. 1967 p. 445, A.L. 1981 S.B. 28)

Prior revisions: 1929 § 5384; 1919 § 11766

(1952) Where defendant bank filed answer and interpleader and took position that deposit belonged to the estate of plaintiff's mother rather than to plaintiff, and court sustained interpleader and ordered other parties to be brought in, but did not discharge bank, there was no appealable order. Heinrich v. South Side Nat. Bank, 363 Mo. 220, 250 S.W.2d 345. (1953) Husband and wife having joint bank account both became ill and husband then arranged to have Simrall's name added to the account. Upon death of husband, Simrall came into bank and nearly all of deposit was, with Simrall's consent, transferred to escrow account. Wife subsequently died. Interpleader by bank held proper. Clay County Bank v. Simrall (A.), 259 S.W.2d 422.