New Mexico Statutes

§ 58-1-15 — Adverse claims to contents of safe deposit box

New Mexico·Ch. 58 Financial Institutions and Regulations·Art. 1 Banking Generally

A. An adverse claim to the contents of a safe deposit box, or to property held in safekeeping, is not sufficient to require the lessor to deny access to its lessee unless:

(1)the lessor is directed to do so by a court order issued in an action in which the lessee is served with process and named as a party by a name which identifies him with the name in which the safe deposit box is leased or the property held; or (2) the safe deposit box is leased or the property is held in the name of a lessee with the addition of words indicating that the contents or property are held in a fiduciary capacity, and the adverse claim is supported by an affidavit stating facts disclosing that it is made by or on behalf of a beneficiary and that there is a reason to believe that the fiduciary may misappropr

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Legislative History

1953 Comp., § 48-22-15, enacted by Laws 1963, ch. 305, § 15.

Nearby Sections

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