Does any regulation state that an outside notary need be present when it is necessary for the bank to open a Safe Deposit Box to retreive the contents?

None that I am aware of. I have never heard that a Notary's duties went that far. Regardless, I would believe this to be a State issue meaning you could get many different answers.

The only requirement I know of here in Texas, and it may be more our policy than law, is dual control on a drilled box and the subsequent inventory.

------------------
Andy Zavoina
Opinions stated are not necessarily that of my employer.

Amy, Andy is right on the State law issue. Since you are in New York Article VIII-A, Section 335 (Safe Deposit Business) of the New York Banking law applies. Yes, it requires that a notary along with an officer/or employee designated by the bank be present when a box is broken open. The certificate listing the contents (if any) must be notarized. There is no requirement to use an outside notary. Whether to use an outside notary or a bank notary differs among New York State Safe Deposit Association member banks here in New York City. Some use an outside notary, some use a vault attendant who is also a notary, and others use a bank notary that is not associated with the vault when doing break opens.

Here's the link to the NY State law if you don't already have it: http://assembly.state.ny.us/cgi-bin/claws?law=9&art=22

------------------
Opinions expressed are mine and not those of my employer.

Thanks so much for the information. It was very helpful.

The Notary is part of the inventory authentication. Now I understand that they are there to sign the inventory document in their official capacity and to do so must assist in the process. (The light bulb goes on!)

------------------
Andy Zavoina
Opinions stated are not necessarily that of my employer.