N.Y. CPLR § 2601

NEW YORK CIVIL PRACTICE LAW AND RULES (CPLR) New York State | For Informational Purposes Only CPLR § 2601 Payment of money or securities into court § 2601. Payment of money or securities into court. (a) Discharge ofparty paying money into court. A party paying money into court pursuantto the direction of the court is discharged thereby from all furtherliability to the extent of the money so paid in.(b) Delivery of money and securities to county treasurer; commissionerof finance of city of New York. All moneys and securities paid intocourt shall be delivered either by the party making the payment intocourt or when an officer other than the county treasurer first receivesthem, by that officer, to the county treasurer of the county where theaction is triable or to such other county treasurer as the courtspecially directs. Where money or securities are received by an officerother than the county treasurer, he shall deliver them to the countytreasurer within two days after he receives them. The commissioner offinance of the city of New York shall be considered the treasurer ofeach of the counties included within the city.(c) Title to funds paid into court. Title for the benefit ofinterested parties is vested in the county treasurer to whom anysecurity is transferred pursuant to this article. Any securitypurchased by the county treasurer as an investment of money paid intocourt shall be purchased in the name of his office. He may bring anaction upon or in relation to a security in his official orrepresentative character.(d) Subsequent control of money or securities paid into court. A courtmay direct that money or securities in the custody of a county treasurerpursuant to this section be transferred or invested as it deems proper.