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 BankersOnline.com 3/4/13