When the security of the proceeds of the 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 county where the papers are filed, and the clerk’s successors in office, who shall hold the same for the use and benefit of the parties interested, subject to the order of the court.
[1911 CPA § 625; RL § 5567; NCL § 9114]