Texas Finance Code

§ 59.103 — RELATIONSHIP OF SAFE DEPOSIT COMPANY AND RENTER

FI § 59.103Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 59. MISCELLANEOUS PROVISIONS · Art. B. SAFE DEPOSIT BOXES

Statute text

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In a safe deposit transaction the relationship of the safe deposit company and the renter is that of lessor and lessee and landlord and tenant, and the rights and liabilities of the safe deposit company are governed accordingly in the absence of a contract or statute to the contrary. The lessee is considered for all purposes to be in possession of the box and its contents.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.