Is there a State regulation that dictates how Night Deposits should be handled? Internal audit is telling us that if a customer uses our night depository more than 18 times in a year we need to have a signed night depository agreement and i just want to see where and what reg says so. Seems that a federal rule doesn't exists. Thanks

In situations like this, when an auditor makes a claim that something is required, it is like looking for a needle in a haystack. I would go back to the auditor and say that you would be glad to comply, but they need to provide you the legal or regulatory source for this recommendation. Otherwise, it is purely a risk based decision and up to management to decide.

The only signed night depository agreements we have are when a locked bag is used. Otherwise, night deposit use is covered in our Terms & Agreements.