Minnesota Statutes
§ 55.07 — DEPOSITS, HOW KEPT; ACCOUNTS KEPT
Minnesota § 55.07
This text of Minnesota § 55.07 (DEPOSITS, HOW KEPT; ACCOUNTS KEPT) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Minn. Stat. § 55.07 (2026).
Text
Subdivision 1.Vault approved by commissioner.
No person shall carry on the business of a safe deposit company as authorized by section55.02unless the safe deposit boxes let out or rented by it and the valuable personal property taken and received by it for safekeeping and storage are kept in a fireproof vault approved by the commissioner of commerce.
Subd. 2.Accounts.
Every licensed safe deposit company shall keep books in which shall be entered an account of all its transactions relative to the letting, renting, or leasing of its safe deposit boxes, and to the receipt of valuable personal property for safekeeping or storage.
Subd. 3.Safe deposit lease; automatic renewal.
A safe deposit lease may renew automatically at the end of the lease's term. A consumer may terminate a safe deposit
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Legislative History
(7747-7)1933 c 340 s 7;1945 c 114 s 7;1983 c 289 s 114subd 1;1984 c 655 art 1 s 92;1Sp2025 c 4 art 2 s 7
Nearby Sections
14
§ 55.01
DEFINITIONS§ 55.02
POWERS§ 55.03
LICENSE REQUIRED§ 55.04
LICENSES§ 55.041
ANNUAL LICENSE FEE§ 55.05
BONDS§ 55.08
LICENSE POSTED§ 55.10
LIABILITY; EXEMPTIONS§ 55.12
LIABILITY MAY BE LIMITED§ 55.15
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Bluebook (online)
Minnesota § 55.07, Counsel Stack Legal Research, https://law.counselstack.com/statute/mn/55/55.07.