In this article, unless the context otherwise requires:
1. "Lessee" means a person contracting with a lessor for the use of a safe deposit repository.
2. "Lessor" means a corporation or association authorized under the laws of this state, any other state or the United States to do business as a bank, trust company, credit union or savings and loan association and maintaining safe deposit repositories for public use.
3. "Safe deposit repository" or "repository" means a safe deposit box or any other safe deposit receptacle and includes the lessor's vault space made available for use by the lessee in common with others for the storage of property or documents.