Browse Arkansas Code titles and sections
18-27-102. Safe-deposit boxes.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-27-102. Safe-deposit boxes.
(a) Any state, national or private bank, savings and loan association, hotel, or other private safe-deposit company, in this subchapter referred to as a bank, financial institution, or company, may maintain safe-deposit boxes and rent the safe-deposit boxes.
(b)(1) If a safe-deposit box is held in the name of two (2) or more persons jointly, any one (1) of such persons shall be entitled to access to the box and shall be permitted to remove the contents thereof, and the bank, financial institution, or company shall not be responsible for any damage arising by reason of the access or removal by one (1) of the persons.
(2) The death of one (1) holder of a jointly held safe-deposit box does not affect the right of any other holder of the box to have access to and remove contents from the box.
(c)(1) If the box rental is delinquent for six (6) months, the bank, financial institution, or company, after at least thirty (30) days' notice by certified return receipt mail addressed to the lessee at his or her last known address on the books of the bank, financial institution, or company, if the rent is not paid within the time specified in the notice, may open the box in the presence of two (2) employees, at least one (1) of whom is an officer or manager of the bank, financial institution, or company, and a notary public.
(2) The bank, financial institution, or company must inventory the contents of the box in detail and place the contents of the box in a sealed envelope or container bearing the name of the lessee.
(3)(A) The bank, financial institution, or company shall then hold the contents of the box subject to a lien for its rental, the cost of opening the box, and the damages in connection therewith.
(B) If such rental, cost, and
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-27-102
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:18-27-102
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a72562fe3ae37e1065202e46b0daedd467807319c4eb958a8304da3128c8f29b
Source location: content.xml paragraph 6310
Stored source content
18-27-102. Safe-deposit boxes.
(a) Any state, national or private bank, savings and loan association, hotel, or other private safe-deposit company, in this subchapter referred to as a bank, financial institution, or company, may maintain safe-deposit boxes and rent the safe-deposit boxes.
(b)(1) If a safe-deposit box is held in the name of two (2) or more persons jointly, any one (1) of such persons shall be entitled to access to the box and shall be permitted to remove the contents thereof, and the bank, financial institution, or company shall not be responsible for any damage arising by reason of the access or removal by one (1) of the persons.
(2) The death of one (1) holder of a jointly held safe-deposit box does not affect the right of any other holder of the box to have access to and remove contents from the box.
(c)(1) If the box rental is delinquent for six (6) months, the bank, financial institution, or company, after at least thirty (30) days' notice by certified return receipt mail addressed to the lessee at his or her last known address on the books of the bank, financial institution, or company, if the rent is not paid within the time specified in the notice, may open the box in the presence of two (2) employees, at least one (1) of whom is an officer or manager of the bank, financial institution, or company, and a notary public.
(2) The bank, financial institution, or company must inventory the contents of the box in detail and place the contents of the box in a sealed envelope or container bearing the name of the lessee.
(3)(A) The bank, financial institution, or company shall then hold the contents of the box subject to a lien for its rental, the cost of opening the box, and the damages in connection therewith.
(B) If such rental, cost, and damages are not paid within two (2) years from the date of opening of such box, the bank, financial institution, or company may sell any part or all of the contents at public auction in like manner and upon like notice as is prescribed for the sale of real property under mortgage or deed of trust.
(C) Any unauctioned contents of boxes and any excess proceeds from such sale shall be remitted to the Auditor of State under the procedures prescribed by § 18-28-201 et seq.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-28-201. Definitions.
In this subchapter:
(1) “Administrator” means the Auditor of State.
(2) “Apparent owner” means a person whose name appears on the records of a holder as the person entitled to property held, issued, or owing by the holder.
(3) “Business association” means a corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, land bank, safe deposit company, safekeeping depository, financial organization, insurance company, mutual fund, utility, or other business entity consisting of one (1) or more persons, whether or not for profit.
(4) “Domicile” means the state of incorporation of a corporation and the state of the principal place of business of a holder other than a corporation.
(5) “Financial organization” means a savings and loan association, building and loan association, savings bank, industrial bank, bank, banking organization, or credit union.
(6) “Holder” means a person obligated to hold for the account of, or deliver or pay to, the owner property that is subject to this subchapter.
(7) “Insurance company” means an association, corporation, or fraternal or mutual benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, including accident, burial, casualty, credit life, contract performance, dental, disability, fidelity, fire, health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage protection, and workers' compensation insurance.
(8) “Mineral” means gas; oil; coal; other gaseous, liquid, and solid hydrocarbons; oil shale; cement material; sand and gravel; road material; building stone; chemical raw material; gemstone; fission
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-28-201
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 18-28-201. This identifies an authority to review, not proof of applicability.