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Can you store a gun in a safe deposit box?
by Andy Zavoina and John Burnett, BOL Gurus

Question: Can you tell me if it's legal to store a handgun or cash in a bank safe deposit box. If not why?

Answer by Andy Zavoina:
BIO AND CONTACT INFO
I have often heard that it is illegal to have cash in a safe deposit box. But nobody has ever shown me a cite. Nor can I give you one.

Your agreement should indicate what may not be kept in a box, such as dangerous chemicals or explosives.

From a practical aspect you should not know what is in a safe deposit box. If you do because of a customers admission, you should enforce the terms of your agreement.

Answer by John Burnett:
BIO AND CONTACT INFO
There is no legal prohibition against keeping cash in a safe deposit box. And there may be (admittedly few) good reasons for doing so. Consider collectible currency or coins.

The collectible nature of some firearms is also one reason a gun might be in your vaults. But I strongly agree with the concept of including contractual limits in your safe deposit agreement to restrict the possibility that harmful items (such as a loaded gun ) might be stored there.

First published on BankersOnline.com 10/7/02



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