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#925006 - 03/18/08 05:20 PM Dormant Safe Deposit Box
New Poster
Joined: Mar 2008
Posts: 1
I have a few questions concerning when a safe deposit box becomes dormant. When is a box considered dormant? Does it become dormant after 1 year of non-payment? What about clients that you waive the annual fee on? How do you determine on these types of boxes when they become dormant.

Any help you can give me would be greatly appreciated

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#925631 - 03/19/08 12:44 PM Re: Dormant Safe Deposit Box FLORIDA GIRL
Rocky P Offline
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Joined: Jun 2003
Posts: 7,402
State statutes describe what constitutes dormancy.

It is not usually considered by past due rental payments, but more by loosing contact with the customer. Some states go as far as looking at the entire relationship for dormancy and eschetement - if you are active in one (of many accounts) all the relationships are considered active [even if you haven't used your savings account for a few years].

You might be best to check with your state law for definitions.
Integrity. With it, nothing else matters. Without it, nothing else matters.

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#1109371 - 01/12/09 07:58 PM Re: Dormant Safe Deposit Box Rocky P
BrendaC Offline
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Joined: Sep 2001
Posts: 6,029
Sweet Home AL
Life without Jesus is like an unsharpened pencil - it has no point.

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