South Carolina Code 34-19-10. Definitions
Current as of: 2023 | Check for updates
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"Lessee" means a person contracting with a lessor for the use of a safe deposit box.
"Lessor" means a bank, cash depository, or trust company renting safe deposit facilities authorized by law to operate in the State.
Terms Used In South Carolina Code 34-19-10
- bank: as used in this title must be construed to include all institutions doing any kind of banking business whose deposits are eligible for insurance by the Federal Deposit Insurance Corporation, excluding a savings bank, and "building and loan association" as used in this title must be construed to include a mutual or stock savings association, savings and loan association, or savings bank and all other institutions doing any kind of building and loan business whose deposits are eligible for insurance by the Federal Savings and Loan Insurance Corporation. See South Carolina Code 34-1-10
"Safe deposit box" means a safe deposit box, vault, or other safe deposit receptacle maintained by a lessor and the rules relating thereto apply to property or documents kept in safekeeping in the bank’s vault.