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Reg Require Lessee to Sign Safe Deposit Agreement?

We require all lessees (agent or deputy) to sign our safe deposit box agreement in front of an employee. Why is this required? Is it a bank security measure or Reg?

Answer by Randy Carey: It is not a Federal regulation, although there may be State law considerations. A safe deposit agreement is a contractual issue. It is difficult to enforce a contract without one party's acknowledgment of the contract.


Answer by Kahtleen Blanchard: It is also important to know who actually signed a contract, which is why signing in front of an employee or having the contract notarized is the norm.

First published on 3/4/13

First published on 03/04/2013

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