Kansas § 9-1506 Default of lessee; notice; disposition of contents

Kansas Statutes

§ 9-1506 — Default of lessee; notice; disposition of contents

Kansas·Ch. 9 BANKS AND BANKING; TRUST COMPANIES·Art. 15 BANKING CODE; SAFE DEPOSIT BOX RENTAL

(a)The lessor shall have a lien upon the contents of any safe deposit box for the rental thereon.

(b)The lessor may, after giving not less than 60 days' written notice to the lessee of such lessor's intention to enter the box, remove the contents and sell the same for the payment of rent due or other expenses incurred by the bank in keeping the contents, open the box forcibly and remove the contents in the presence of two of the lessor's employees, one of whom shall be an officer, when:

(1)The lessee has not paid the rent within 30 days after the same is due; or

(2)the lessee has failed to surrender possession of any box within 30 days from the date of the termination of the lease.

(c)The lessor shall retain such contents for at least 90 days after opening the box. The lessor then may

Free access — add to your briefcase to read the full text and ask questions with AI

(a) The lessor shall have a lien upon the contents of any safe deposit box for the rental thereon.
(b) The lessor may, after giving not less than 60 days' written notice to the lessee of such lessor's intention to enter the box, remove the contents and sell the same for the payment of rent due or other expenses incurred by the bank in keeping the contents, open the box forcibly and remove the contents in the presence of two of the lessor's employees, one of whom shall be an officer, when:
(1) The lessee has not paid the rent within 30 days after the same is due; or
(2) the lessee has failed to surrender possession of any box within 30 days from the date of the termination of the lease.
(c) The lessor shall retain such contents for at least 90 days after opening the box. The lessor then may sell any part or all of the contents at public sale pursuant to the requirements for a commercially reasonable sale under article 9 of the Kansas uniform commercial code and retain from the proceeds of sale the rent due, the costs of opening and repairing the box, the costs of sale and any other amounts due to the lessor.
(d) Any article, item or document without apparent market value may be destroyed after two years from the date of giving or mailing the required notice.
(e) Any notice required by this section shall be delivered either personally or by registered or certified mail, or electronically pursuant to the uniform electronic transactions act, K.S.A. 16-1601 et seq., and amendments thereto, delivered to the latest address shown on the safe deposit records of the lessor.

Kansas § 9-1506 (Default of lessee; notice; disposition of contents) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.