§47-46 Disputed ownership.
282 words·~1 min read·
/hi/chapter-47/47-46A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§47-46 Disputed ownership. If there are two or more claimants claiming adversely, each to the other or others, to be the owner in due course of a bond, coupon, or both, as the case may be, alleged to have been lost, stolen, destroyed, or defaced, the director of finance, in the director's discretion, may require the claimants, if not within the State, to appoint agents within the State to accept service of process, or otherwise to submit to the jurisdiction of the courts of the State, and may bring suit on behalf of the State in any circuit court against the claimants, by interpleader, for the determination of the claimant or claimants entitled to the payment of the bond, coupon, or both, as the case may be.
Jurisdiction is hereby conferred upon the designated circuit court to hear and determine, without a jury, the suits and to determine whether any of the claimants is entitled to the payment, and, if so, which of the claimants is so entitled; provided that no such judicial determination shall dispense with the condition prescribed by section 47-45 requiring a surety bond before the payment of the claims. The cost of the suit shall be borne by the claimants and the court may decree the payment of such costs by any of the unsuccessful claimants, or the apportionments thereof, as may be deemed just.
The decision of the court may be appealed to the intermediate appellate court, subject to chapter 602, in the manner provided for civil appeals from the circuit court. [L 1989, c 80, pt of §2; am L 2004, c 202, §6; am L 2006, c 94, §1; am L 2010, c 109, §1]