Investment in name of clerk.

When the security for the proceeds of sale is taken, or when an investment of any such proceeds is made, it shall be done, except as herein otherwise provided, in the name of the clerk of the court and his successors in office, who shall hold the same for the use and benefit of the parties interested, subject to the order of the court.

[Code 1881 § 592; 1877 p 123 § 597; 1869 p 141 § 546; RRS § 878.]