Section 447.587

Title XXIX OWNERSHIP AND CONVEYANCE OF PROPERTY

Chapter 447

Effective - 01 Jul 1994, see footnote   

  447.587.  Safe deposit box contents that become unclaimed property — right to fees, charges and authority to enforce possessory liens. — 1.  Notwithstanding any law to the contrary, including sections 447.500 to 447.595, a banking organization as defined in section 447.503 may retain any fees and charges, including enforcing possessory liens for such fees and charges permitted by safe deposit law or the banking organization's safe deposit box contract, when the contents of the safe deposit box becomes unclaimed property.

  2.  Notwithstanding any law to the contrary, including sections 447.500 to 447.595, a financial organization as defined in section 447.503 may retain any fees and charges, including enforcing possessory liens for such fees and charges permitted by safe deposit law or the financial organization's safe deposit box contract, when the contents of the safe deposit box becomes unclaimed property.

  3.  Notwithstanding any law to the contrary, including sections 447.500 to 447.595, a business association as defined in section 447.503 may retain any fees and charges, including enforcing possessory liens for such fees and charges permitted by safe deposit law or the business association's safe deposit box contract, when the contents of the safe deposit box becomes unclaimed property.

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(L. 1989 H.B. 506 §§ 1, 2, 3, A.L. 1994 S.B. 757)

Effective 7-01-94