Texas Finance Code - Section 59.107. Nonemergency Opening And Relocation
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Texas Lawyer > Finance Code > Texas Finance Code - Section 59.107. Nonemergency Opening And Relocation
§ 59.107. NONEMERGENCY OPENING AND RELOCATION. (a) A
safe deposit company may not relocate a safe deposit box rented for
a term of at least six months if the box rental is not delinquent or
open a safe deposit box to relocate its contents to another safe
deposit box or other location except:
(1) in the presence of the lessee;
(2) with the lessee's written authorization; or
(3) as otherwise provided by this section or Section
59.108.
(b) A safe deposit box may not be relocated under this
section unless the storage conditions at the new location are at
least as secure as the conditions at the original box location.
(c) Not later than the 30th day before the scheduled date of
a nonemergency relocation, the safe deposit company shall give
notice of the relocation to each lessee of the safe deposit box.
The notice must state the scheduled date and time of the relocation
and whether the box will be opened during the relocation.
(d) A lessee may personally supervise the relocation or
authorize the relocation in writing if notice is given to each
lessee.
(e) If during the relocation the box is opened and a lessee
does not personally supervise the relocation or has not authorized
the relocation in writing, two employees, at least one of whom is an
officer or manager of the safe deposit company and at least one of
whom is a notary public, shall inventory the contents of the box in
detail. The safe deposit company shall notify each lessee of the
new box number or location not later than the 30th day after the
date of the relocation and shall include a signed and notarized copy
of the inventory report. The cost of a certified mailing other than
the first notice sent in connection with each relocation may be
treated as box rental due at the expiration of the rental term.
(f) This section does not apply to a relocation of a safe
deposit box within the same building.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 1999, 76th Leg., ch. 62, § 7.30, eff. Sept. 1, 1999.
Section: 59.011 59.101 59.102 59.103 59.104 59.105 59.106 59.107 59.108 59.109 59.110 59.201 59.202 59.301 59.302
Last modified: August 10, 2007
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