so offered, he will not be entitled to recover costs from the time of the offer, but must pay costs from that time.

From Co. Proc. § 385.

Am'd by ch. 416 of 1877.

740. Offer and acceptance, by whom subscribed.

Unless an offer or an acceptance, made as prescribed in either of the last four sections, is subscribed by the party making it, his attorney must subscribe it, and annex thereto his affidavit, to the effect that he is duly authorized to make it, in behalf of the party.

741. Rule if offer made within ten days before trial. Repealed by ch. 416 of 1877.

742. In certain cases, judgment to be set aside. Repealed by ch. 416 of 1877.

TITLE III.

Payment of money into court, and care and disposition thereof.

SIC. 743. Party bringing money into court is discharged.

744. General rules may regulate concerning payment into court.

745. Money to be paid to county treasurer, and securities taken in his

name.

746. Funds; where and how deposited or invested.

747. Powers of supreme court as to transfer, etc., to and investment by guardian, etc.

748. When other courts have like power.

749. Powers of certain officers, touching securities, etc.

750. Provisions relating to death, removal, etc., of officer.

751. Authority for payment of money, by bank or trust company.

752. How county treasurer to keep his accounts.

753. County treasurer to report annually to the court.

754. These provisions applicable in New York to the chamberlain.

743. Party bringing money into court is discharged. A party bringing money into court, pursuant to the direction of the court is discharged thereby from all further liability, to the extent of the money so paid in.

From 2 R. S. 171, Part 3, ch. 1, tit. 2, § 21 (2 Edm. 177).

§ 744. General rules may regulate concerning payment into court.

The comptroller of the State of New York shall supervise the administration of all the funds paid into any court of record, and shall prescribe regulations and rules for the care and disposition thereof, which shall be observed by all parties interested therein, unless the court having jurisdiction over the same, shall make different directions, by special order duly entered in accordance with section seven hundred and forty-seven of this act; and the comptroller may at any time require any county clerk or clerk of any court of record, to file with any county treasurer an official certified copy of any record, document or paper, or extracts therefrom, which he may deem necessary for the use of said county treasurer in the administration of such funds; the fees of said clerk for making and certifying such copy or copies shall be a charge upon the county where such records, documents or papers are recorded or filed.

From Id., 22.

Am'd by ch. 651 of 1892 and ch. 269 of 1896.

See rules 12, 68, 69, 70 (Sup. Ct.).

See also 1581.

$ 745. Money to be paid to county treasurer, and securities, taken in his name.

Unless the court otherwise specially directs, money, paid into court, must be paid, either directly, or by the officer who is required by law first to receive it. to the county treasurer of the county, where the action is triable. Where it is paid to an officer, other than the county treasurer, he must pay it to the county treasurer, within four days after he receives it. In the city of New York he must pay it to the chamberlain, within two days after he receives it. A bond, mortgage, or other security, or a certificate or transfer of stock, taken upon the investment of money paid into court, must be taken to the county treasurer

of the county where the fund belongs, in his name of office; or to such other county treasurer, as the court specially directs. But this and the next section do not prevent the court, upon the application of a party to an action, from directing in what manner or place, money, paid into court in the action, shall be deposited or invested.

From ch. 277 of 1848, § 1 (4 Edm. 593); 2 R. S. 171, 172, Part 3, ch. 1, tit. 2, §§ 17, 18 and 24 (2 Edm. 177 et seq.); ch. 280 of 1847, 71 (3 R. S. 5th ed., 285; 4 Edm. 575).

See rules 68, 70 (Sup. Ct.).

See also 1085, Consol. Act.

§ 746. Funds; where and how deposited or invested.

All funds or moneys paid into court shall be deposited in such saings bank. trust company, bank, banking association or with such banker, as shall be designated by the comptroller, as soon as received by the custodian thereof. But the money must be deposited in the County where the fund belongs, where it can be done conveniently and safely and with advantage to the parties interested. The depositaries designated shall pay a fair rate of interest; and before receiving any such deposit shall give to the people of the state a good and sufficient bond with two or more sureties, in such form as the attorney-general shall prescribe, such bond to be approved by the county judge of the county in which such savings bank, bank, trust company, bank association or banker shall be located, and by the comptroller of the state, and filed in the office of the comptroller.

From 2 R. S. 171, Part 3, ch. 1, tit. 2, § 17, 18 and a1; ch. 280 of 1847; § 83.

Am'd by ch. 651 of 1892.

§ 747. Powers of supreme court as to transfer, etc., to and investment by guardian, etc.

Each court may direct that money paid into that court in any action of proceeding brought therein, or any bond, mortgage or other security which represents property belonging to any suit or party interested therein, may be paid out, transferred, invested, reinvested or deposited in any manner or form that appears to it best for the interests of the owners thereof. But such directions must be embodied in an order or decree of said court, founded upon proper and sufficient evidence satisfactory to the court that such disposition of the property is best for the interests of the owners thereof or parties interested therein.

From ch. 277 of 1818, § 8.

Am'd by ch. 651 of 1892.

See $$ 753, 1581.

See also §§ 1161, 1265, Consol. Act.

§ 748. When other courts have like power.

The provisions of the last preceding section shall apply to all courts o record of the State.

From ch. 277 of 1848, § 1.

Am'd by ch. 651 of 1892.

See § 1161, 1265, Consol. Act.

$749. Powers of certain officers, touching securities,

etc.

A county treasurer, or other officer, or a guardian, committee, or other trustee. in whose name is taken a bond, mortgage, or other security, or public stock, representing money, paid into court, in an action; or to whom stock or a security, or an account, deed, voucher, receipt, or other paper, representing or relating to such money, is transferred, de

livered, made, or given, pursuant to law, is vested with title for the purposes of the trust; and may bring an action upon or in relation to the same, in his official or representative character.

From Id., § 4.

Am'd by ch. 416 of 1877.

§ 750. Provision relating to death, removal, etc., of offi

сег.

On the expiration of the official term of a county treasurer, or where a vacancy occurs in his office, by death or otherwise, all public stock, bonds, mortgages, and other securities held by him, as prescribed in this title, vest in his successor in office; and all money deposited, as prescribed in this title, in a bank, trust company or other depository, to his credit, vests in, and must be carried to, the account of his successor in office.

From 2 R. S. 172, Part 3, ch. 1, tit. 2, §§ 26 and 27 (2 Edm. 178).

§ 751. Authority for payment of money by bank or trust company.

No money, security or other property which shall have been placed in the custody of the court shall be surrendered without the production of a properly certified copy of an order of the court, in whose custody said money, security or other property shall have been placed, duly made and entered, directing such disposition. Each order must be countersigned by the presiding judge by whose direction it is made. From Id., § 23.

Am'd by ch. 651 of 1892.
See rule 70 (Sup. Ct.).

§ 752. How county treasurer to keep his accounts.

Every officer having charge of moneys, securities or other property in the custody of the court, shall keep a book or books in which he shall make an exact account thereof. Such book or books shall state the name of the court, the title of the case, the date of receipt, from whom received, the amount of money, if any, and a description of the securities or other property received, if any, and each addition of interest; also the date and description of each order for payment and the dates and amounts of payments thereunder and to whom paid; also an account of each change of investment, if any. The provisions of this section shall also apply to all banks or trust companies holding any of the funds referred to in this title.

Am'd by ch. 651 of 1892.

§ 753. County treasurer to report annually to the court. Every treasurer or financial officer who has in his charge or possession or under his control, money, bonds, stocks, mortgages or any other securities or property as prescribed in this title, must, once in each year, make a report to the comptroller at the time and in the form and manner which he may prescribe, containing a true statement of his accounts for the preceding year or from the time of the last report. This report must be verified by the oath of such officer, and must be accompanied by the certificate of the proper officer of each bank or trust company, stating the exact amount on deposit with such corporation to the credit of each case separately. Such officer or bank or trust company shal! furnish any additional report to the comptroller or to the court at such time and in such detail as may be required.

Am'd by ch. 416 of 1877 and ch. 651 of 1892.

See rule 69 (Sup. Ct.).

754. These provisions applicable in New York to the chamberlain.

Each provision of this title, relating to a county treasurer, applies to the chamberlain of the city of New York, with respect to money paid into court, in an action triable in the city and county of New York, or with respect to money, or a bond, mortgage, or other security, or public stock, representing money paid into court; except where special provision, with respect to the same, is otherwise made by law. See 167, Consol. Act.