This text of Indiana § 29-1-13-1.5 (Access to safe deposit box; duties of financial institutions) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
5.
(a)Upon the death of an individual, a
financial institution shall grant access in the following order of priority
to a safe deposit box leased by the individual at the time of the
individual's death:
(1)A surviving joint lessee of the safe deposit box, upon the
presentation of proof of the individual's status as a joint lessee.
(2)The personal representative of the individual's estate, upon the
presentation of letters testamentary or letters of administration.
(3)The personal representative named in the individual's will,
upon the presentation of an affidavit meeting the requirements of
subsection (c) if a probate estate has not been opened.
(4)The trustee of a trust created by the individual that was
revocable during the individual's life, upon the presentation of an
affidavit mee
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5. (a) Upon the death of an individual, a
financial institution shall grant access in the following order of priority
to a safe deposit box leased by the individual at the time of the
individual's death:
(1) A surviving joint lessee of the safe deposit box, upon the
presentation of proof of the individual's status as a joint lessee.
(2) The personal representative of the individual's estate, upon the
presentation of letters testamentary or letters of administration.
(3) The personal representative named in the individual's will,
upon the presentation of an affidavit meeting the requirements of
subsection (c) if a probate estate has not been opened.
(4) The trustee of a trust created by the individual that was
revocable during the individual's life, upon the presentation of an
affidavit meeting the requirements of subsection (c) if a probate
estate has not been opened.
(5) Any other individual, upon the presentation of a court order
directing access to the safe deposit box.
(b) A person granted access to a safe deposit box under subsection
(a) may exercise the following rights:
(1) The right to open the safe deposit box.
(2) The right to remove the contents of the safe deposit box.
(3) The right to cancel the lease for the safe deposit box.
(c) An affidavit required by subsection (a)(3) or (a)(4) must contain
the following information:
(1) The name of the individual leasing the safe deposit box and
the date of the individual's death.
(2) A statement as to whether the individual died testate or
intestate.
(3) The name of the county in which the individual was domiciled
at the time of the individual's death.
(4) A statement that no application or petition for the appointment
of a personal representative has been granted or is pending in any
jurisdiction.
(5) A statement under the penalty of perjury that the affiant is
qualified under subsection (a)(3) or (a)(4) to obtain access to the
safe deposit box leased by the individual.
(d) Except as provided in subsection (h), a financial institution that
is presented with a request for access to a safe deposit box by a person
described in subsection (a):
(1) shall grant access to the safe deposit box within three (3)
business days of the presentation of the appropriate
documentation required by subsection (a); and
(2) is liable to:
(A) the estate of the individual leasing the safe deposit box; or
(B) an individual entitled to access to the safe deposit box
under subsection (a);
if it fails to grant access to the safe deposit box within three (3)
business days of the presentation of the appropriate
documentation required by subsection (a).
(e) A financial institution that provides access to a safe deposit box
under this section is discharged and released from liability and
responsibility for the assets held in the safe deposit box. The financial
institution is not required to:
(1) inquire into the truth of any statement in an affidavit presented
under this section; or
(2) participate in the disposition of the assets held in the safe
deposit box.
(f) A plaintiff who prevails in an action:
(1) to compel a financial institution presented with a request for
access to a safe deposit box in accordance with this section to
accept the authority of the person requesting access; or
(2) for damages arising from a financial institution's refusal to
grant the requested access;
is entitled to recover the amounts specified in subsection (g).
(g) A prevailing plaintiff described in subsection (f) is entitled to the
following:
(1) Three (3) times the amount of the actual damages.
(2) Attorney's fees and court costs.
(3) Prejudgment interest on the actual damages calculated from
the date that the appropriate documentation was presented to the
financial institution under subsection (a).
(h) If a financial institution requires the services of a locksmith or
other contractor to gain access to a safe deposit box, the financial
institution has five (5) additional business days to comply with the
requirements of subsection (d).