Part Definitions

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As used in this part, unless the context otherwise requires:

  1. “Agent” means any person duly authorized in writing by a lessee to enter a safe deposit box rented by the lessee, whether the person be denominated as “agent,” “deputy,” “attorney-in-fact,” or otherwise. The agent's authority shall be established and shall continue until revoked, both in accordance with § 45-2-707;
  2. “Fiduciary” means trustee, agent, executor, administrator, committee, guardian or conservator for a minor or other incompetent person, receiver, trustee in bankruptcy, assignee for creditors or any holders of a similar position of trust;
  3. “Lessee” means a person contracting with a lessor for the use of a safe deposit box;
  4. “Lessor” means a bank or subsidiary corporation of a bank renting safe deposit facilities, and includes a safe deposit company organized and operating under the jurisdiction of the department solely for the purpose of leasing safe deposit facilities; and
  5. “Safe deposit box” means a safe deposit box, vault, or other safe deposit receptacle maintained by a lessor and the rules relating thereto apply to property or documents kept in safekeeping in the bank's vault.


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