Section 12-604 – Limitations on Liability
(a) In a contract governing the use of a safe-deposit box by a customer, the safe-deposit company may limit its total liability for any loss resulting from its negligence to a maximum amount, which may not be less than 500 times the annual rental charged for the safe-deposit box. (b) The safe-deposit company may provide in the […]
Section 12-602 – Access by Fiduciaries to Safe-Deposit Boxes
(a) In this section, “fiduciary” includes the fiduciary’s successor. (b) Except as provided in subsection (c) of this section, if a safe-deposit company rents a safe-deposit box to a fiduciary, the safe-deposit company may not permit access to the safe-deposit box: (1) By any person other than the fiduciary; and (2) If the safe-deposit box is rented to two […]
Section 12-603 – Access to Search for Lessee’s Will
If the lessee of a safe-deposit box dies and, before a personal representative for the lessee’s estate has been appointed, a person wishes to open the safe-deposit box to search for the lessee’s will, a representative of the safe-deposit company shall be present when the safe-deposit box is opened.