Delaware Code Title 10 Sec. 506 – Deposit or investment of money paid into Court
The Superior Court may deposit, in the name of the Court in any savings bank of this State, or invest in the name of the State in the funded debt of this State or of the United States, or upon bond or mortgage, or both, any money paid into the Court when the person entitled to the same is a nonresident of this State, unknown or incompetent to receive the same, or when for any sufficient cause it is impossible or improper to pay the same to the party interested therein.
Terms Used In Delaware Code Title 10 Sec. 506
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
The money so deposited or invested may be called in, collected, redeposited, reinvested or paid to the parties entitled to the same, as the Court from time to time directs. Costs incurred under this section shall be payable out of the fund.
16 Del. Laws, c. 526; Code 1915, § ?2733; Code 1935, § ?4283; 10 Del. C. 1953, § ?506;