The Act allowed an insurance company, or fraternal benefit society subject to multiple claims on the same policy to file a suit in equity by a bill of interpleader in United States district courts and providing nationwide service of process.
976 approved February 25, 1925 dividing it into three sections, eliminating the words "may claim" that were in the 1917 act and clarifying the venue provisions .
416 approved May 8, 1926, which added to those who can bring suit casualty company and surety company, empowered the court to enjoin claimant from proceeding in any state or other federal court on the same liability, adding provisions as to the proper venue for the interpleader in cases were the claimants are in different districts.
1096, approved Jan. 20, 1936, drafted by Zechariah Chafee which codified it in as United States Judicial Code §41(26), and established the modern statutory interpleader allowing suite to be brought by any person, firm, corporation, association or society having custody of money or property or insurance policy or instrument valued at $500 or more which there are two or more adverse claimant who are citizens of different states, whether or not the claims have common origins, identical, adverse or independent of each other, and allowed it to be an equitable defense in actions at law, Judicial Code §274b.
United States district courts have jurisdiction to hear suites in equity began by a bill of interpleader where: The court may issue process to any claimant to the United States marshal of any district the claimant may reside or be found.