Banks that offer safe-deposit boxes have certain special legal options to use if they need to enforce the responsibilities of people renting those boxes or using the bank for safekeeping and storage.

If you rent a safe-deposit box from a bank and don't pay the fee within six months of when it's due, the bank can send you a notice. This notice will explain that if you don't pay by a certain date—at least 30 days after they send the notice—they will forcibly open the box.

If you haven't paid the rent for your safe-deposit box and the cost of the notice by the specified date, the bank can open the box. This has to be done in front of two bank employees, including one officer, and they'll remove and list everything inside. The items will be documented with their signatures.

This law specifies who can receive a copy of an inventory from a bank related to a decedent's estate. The eligible people are the executor of the will, the estate administrator, their attorney, a safe-deposit box tenant, any heir or will beneficiary, and anyone whom the court orders should have it.

This law requires a bank to keep the contents removed from a safe-deposit box for at least two years, unless the person who rented the box requests them earlier. The bank must return these contents to the renter after they pay any outstanding fees, such as rental, notification, box opening, and storage charges. Even if the contents suggest they belong to someone else, the bank can still give them back to the renter.

After a safe-deposit box has been open for two years, a bank can send a notice to the owner warning them if they don't pay overdue fees and costs, the bank will auction off the contents. This sale can't happen until at least 30 days after the notice is sent. The bank must advertise the auction in a local newspaper at least five days before the sale, or post notices if no newspaper is available. The notice just needs to generally describe the items as contents of a safe-deposit box. The bank can postpone the sale if necessary, as long as the new date and time are announced publicly at the sale's location.

This section says that if stocks, bonds, or other securities are already listed on a U.S. stock exchange, they can't be sold in a public sale as outlined in the previous section. Instead, they should be sold directly through the stock exchange for those types of trades.

When a bank sells securities, an officer must attach an affidavit to those securities confirming the sale followed the rules outlined in this article. This affidavit gives the necessary authority to cancel old stock certificates and issue new ones to the buyer. It also allows for the registration of bonds or other securities in the new owner's name.

When a bank sells items from a rented safe-deposit box, it first takes out any money owed and additional fees mentioned in a notice they sent earlier. Whatever money is left over is recorded as an amount the bank owes to the person who rented the safe-deposit box.

If a safe-deposit box is opened and its contents are judged by at least two bank officers to be worthless, they don't have to be put up for sale. Items not sold after being offered must be kept by the bank for at least a year before they can be destroyed. Before destroying any unsold items, the bank must notify the box owner 30 days in advance if no sale notice was given previously. Disposals should occur in the presence of a bank officer.

This law states that if a bank opened a safe-deposit box due to unpaid rent before this section took effect and the contents are still with the bank, the bank can use certain legal actions to get back what the former renter owes. This applies even if the box was rented before October 1, 1949.

When a bank takes care of someone's personal items for safekeeping and gives them a receipt, it acts like a storage facility and can use the rules of the Uniform Commercial Code to claim a lien. Alternatively, the bank can follow another specific legal process described in Sections 1671 to 1673 to enforce this lien.

If you owe a bank money for safekeeping or storing your personal property and don’t pay within six months, the bank can notify you that they plan to sell your property after 30 days. If you don’t pay by then, the bank can sell your items in a public sale. They must publicize the sale details in advance. If the payment isn't made 10 days before the sale, the bank can open any containers your items are in, inventory the contents, and sell both the contents and containers any way they choose.

When a bank sells personal property, it first takes out any costs mentioned in the final notice along with any new charges. It also deducts costs related to notices, advertising, and the sale process. Anything left over is credited to an account for the original receipt holder of the property.

This section states that if a bank officer determines certain documents or items have no obvious value, they don't need to be put up for sale. Items not sold must be kept by the bank for at least a year after a sale notice was sent. If no one claims them after a year, the bank can destroy them, but only when a bank officer and a notary public are present.

This law allows banks to sell the contents of a safe-deposit box or personal property stored with them if the owner doesn't pay the fees. The bank has the right to sell bonds, stocks, promissory notes, or any other possessions, whether the owner can prove they own them or not.

This law explains that if a bank takes over a safe-deposit box or property from another bank, it gains the same rights and remedies as if the original rental or storage agreement was made with them directly. Essentially, the new bank can take the same actions regarding the safe-deposit box or stored items as the original bank could have.

This law states that banks have the right to pursue any existing legal actions to collect debts related to safe-deposit boxes. They can choose to recover the full amount owed to them without needing to sell any stored items, or they can recover the remaining debt after some of it has been paid through the sale of those items.

This law says that if a bank has possession of securities (like stocks or bonds) because of this article, and if any money (principal, interest, or dividends) from these securities is due, the bank can collect it. The bank can then take any amount owed to them by the person who rented the safe-deposit box or had a safekeeping receipt. Whatever is left after deducting what’s owed is credited to the person’s account.

This section outlines how banks should handle notifications related to safe-deposit boxes or storage receipts when they are in multiple names or when a person has passed away. If notice needs to be sent, it can be sent to any one of the individuals or their legal representatives, and that will count as notifying all involved parties. When notices need to be published before a sale, the publication must include the name and address of the person whose box is on record. When an account credit is required, it must be done in all listed names, but can be accessed by any one of them or their representatives. Lastly, a notice is considered mailed if it is sent in a sealed, postage-paid envelope using at least first-class mail to the address on record for the person associated with the safe-deposit box or receipt.

This law states that when you pay or deduct fees for a safe-deposit box or similar services, you must also include any applicable taxes required by law.

Banks or trust companies can hold U.S. Government bonds for customers safely, and must provide a receipt and maintain records of these deposits. If the depositor wants their bonds back, the bank can either return the same bonds or equivalent ones of the same type and value.