In all suits brought by the state, where it is made to appear, to the satisfaction of the chancellor or judge before whom the same is pending, that any funds, moneys, bonds, notes, coupons or securities are held by any person as agent, depository or trustee, either for the state or for any of the parties against whom the suit is pending, and the litigation involves the question as to which party is entitled to the ownership or possession of the fund, or the terms on which it shall be taken by the state, it shall be the duty of the court, judge or chancellor, in open court or at chambers, in term or in vacation, to order and direct that the fund be deposited in the treasury for safekeeping, which order the court, judge or chancellor shall proceed to enforce by process of attachment against the person, or by such other writ, process, orders or agency as may be adequate to the purpose.