Colorado § 11-105-505 Adverse claims to safe deposit box

Colorado Statutes

§ 11-105-505 — Adverse claims to safe deposit box

Colorado·Title 11 Financial·Art. Banking Practices

(1)An adverse claim to the contents of a safe deposit box is not sufficient reason to require the lessor to deny access to its lessee unless:

(a)The lessor is directed to do so by a court order issued in an action in which the lessee is served with process and named as a party by a name that identifies the lessee with the name in which the safe deposit box is leased; or

(b)The safe deposit box is leased, or the property is held, in the name of a lessee with the addition of words indicating that the contents, or property, are held in a fiduciary capacity for a named beneficiary or beneficiaries, and the adverse claim is supported by a sworn written statement of facts disclosing that it is made by, or on behalf of, such a beneficiary and that there is reason to know that the fi

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(1) An adverse claim to the
contents of a safe deposit box is not sufficient reason to require the lessor to deny
access to its lessee unless:

(a) The lessor is directed to do so by a court order issued in an action in
which the lessee is served with process and named as a party by a name that
identifies the lessee with the name in which the safe deposit box is leased; or

(b) The safe deposit box is leased, or the property is held, in the name of a
lessee with the addition of words indicating that the contents, or property, are held
in a fiduciary capacity for a named beneficiary or beneficiaries, and the adverse
claim is supported by a sworn written statement of facts disclosing that it is made
by, or on behalf of, such a beneficiary and that there is reason to know that the
fiduciary may misappropriate the trust property.

(2) A claim is also an adverse claim where one of several lessees claims,
contrary to the terms of the lease, an exclusive right of access, or where one or
more persons claim a right of access as agents or officers of a lessee to the
exclusion of others as agents or officers, or where it is claimed that a lessee is the
same person as one using another name.

(3) The lessor of a safe deposit box shall not be deemed to be in possession
or control of the contents thereof for the purposes of section 13-54.5-103, C.R.S., or
any other statute or rule pertaining to writs of garnishment.

Colorado § 11-105-505 (Adverse claims to safe deposit box) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2003: Entire article added with relocations, p. 1127, � 3, effective July 1. L. 2009: (3) added, (HB 09-1053), ch. 159, p. 689, � 9, effective August 5.