Section 12-602 - Access by fiduciaries to safe-deposit boxes. - Maryland Statutes

§ 12-602. Access by fiduciaries to safe-deposit boxes.
 

(a)  "Fiduciary" defined.- In this section, "fiduciary" includes the fiduciary's successor. 

(b)  In general.- Except as provided in subsection (c) of this section, if a safe-deposit company rents a safe-deposit box to a fiduciary, the safe-deposit company may not permit access to the safe-deposit box: 

(1) By any person other than the fiduciary; and 

(2) If the safe-deposit box is rented to two or more fiduciaries, by less than all of the fiduciaries in person. 

(c)  Exception.- The safe-deposit company may permit access to the safe-deposit box by: 

(1) Any individual authorized by all of the fiduciaries, in accordance with a rental agreement, written power of attorney, or other written authority signed by each fiduciary and filed with the safe-deposit company; and 

(2) Less than all of the fiduciaries, in accordance with a rental agreement, written power of attorney, or other written authority signed by the remaining fiduciaries and filed with the safe-deposit company. 
 

[An. Code 1957, art. 23, § 315; 1980, ch. 33, § 2.]