§ 12-602

Maryland § 12-602

• Jurisdiction: Maryland
• Article gfi: Financial Institutions
• Title: 12

Text

(a) In this section, “fiduciary” includes the fiduciary’s successor.

(b) Except as provided in subsection (c) of this section, if a safe-deposit company rents a safe-deposit box to a fiduciary, the safe-deposit company may not permit access to the safe-deposit box:

(1) By any person other than the fiduciary; and

(2) If the safe-deposit box is rented to two or more fiduciaries, by less than all of the fiduciaries in person.

(c) The safe-deposit company may permit access to the safe-deposit box by:

(1) Any individual authorized by all of the fiduciaries, in accordance with a rental agreement, written power of attorney, or other written authority signed by each fiduciary and filed with the safe-deposit company; and

(2) Less than all of the fiduciaries, in accordance with a rental agreement, written power of attorney, or other written authority signed by the remaining fiduciaries and filed with the safe-deposit company.