Definition of terms.

Checkout our iOS App for a better way to browser and research.

51A-11-1. Definition of terms.

Terms used in this chapter, unless the context otherwise plainly requires, shall mean:

(1)"Lessee," a person contracting with the lessor for the use of a safe deposit box;

(2)"Lessor," a bank or branch bank which engages in the business of renting safe deposit facilities;

(3)"Safe deposit box," a box, vault, or other receptacle maintained by a lessor in its vault and the purpose of which is to secure the property of a lessee.

Source: SL 1969, ch 11, §9.1; SDCL, §51-23-1.


Download our app to see the most-to-date content.