In a safe deposit transaction the relationship of the safe deposit company and the renter is that of lessor and lessee and landlord and tenant, and the rights and liabilities of the safe deposit company are governed accordingly in the absence of a contract or statute to the contrary. The lessee is considered for all purposes to be in possession of the box and its contents.
Tex. Fin. Code § 59.103
RELATIONSHIP OF SAFE DEPOSIT COMPANY AND RENTER
Known as the Texas Banking Act
The act spans §§ 31–59 (247 sections).
Applied in 2 court decisions — leading case Faulkner v. Kornman (In Re Heritage Organization, L.L.C.) (2009)
Most recently applied in Faulkner v. Kornman (In Re Heritage Organization, L.L.C.) (May 2009)
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.