Skip to content
BOL Conferences
Thread Options
#2278738 - 12/13/22 05:20 PM SCRA question Safe Deposit Boxes
BSAguy Offline
Gold Star
Joined: Aug 2007
Posts: 298
Kansas
We have a safe deposit box that needs to be drilled for non-payment. The box holder is a legal entity. Do we need to complete an SCRA search of the individuals behind the legal entity?

Return to Top
Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2278756 - 12/14/22 01:49 AM Re: SCRA question Safe Deposit Boxes BSAguy
Patriot Offline
Junior Member
Joined: Apr 2016
Posts: 29
I do not believe you would need to search the database for a Legal Entity, only natural persons.
Last edited by Patriot; 12/14/22 01:52 AM.
Return to Top
#2278760 - 12/14/22 02:56 PM Re: SCRA question Safe Deposit Boxes BSAguy
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
https://www.bankersonline.com/qa/drilling-safe-deposit-box-under-scra

https://www.cuinsight.com/recent-doj-scra-enforcement-actions/

If the individual behind the legal entity is also individually liable on the safe deposit box lease then I would say they are entitled to the SCRA protection if they are an active servicemember.

It takes all of 5 minutes to run the check....IMO....5 minutes well spent if it prevents a possible SCRA violation which in turn can produce a PR fiasco.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  Andy_Z