Indiana Statutes
§ 28-1-11-11 — Safe deposits and escrows
Any bank or trust company shall have power
to receive, upon terms and conditions to be prescribed by such
corporation, not inconsistent with the provisions of this section, upon
deposit for safe-keeping, or in escrow, moneys, bonds, mortgages,
jewelry, plate, stock, securities and valuable papers of any kind, and
other personal property for hire, and to rent or lease receptacles for safe
deposits of personal property. No bank or trust company nor any of the
assets thereof shall be liable, for the value of any property received by
it pursuant to the power conferred by this section nor for damages for
the loss, theft or misappropriation thereof. Any bank or trust company
may procure and carry a policy or policies of insurance for the benefit
of the owners of any property received by it pursu
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Related
Welbourn v. Peoples Loan & Trust Co.
283 N.E.2d 544 (Indiana Court of Appeals, 1972)
Nearby Sections
15
§ 28-1-1-1
Short title§ 28-1-1-2
Application of article§ 28-1-1-3
Definitions§ 28-1-1-3.5
Affiliate relationship§ 28-1-1-3.7
"Emancipated youth"§ 28-1-1-3.9
"Foster youth"§ 28-1-1-4
"Fund"§ 28-1-1-5
References to savings associations§ 28-1-1-6
"Depository financial institution"§ 28-1-1-7
"Qualified youth"§ 28-1-11-11
Safe deposits and escrows