Safety Deposit Box Lease Procedural Guide Multistate Completion Guide
Table of Contents INTRODUCTION... 1 Warranties and Limitations... 3 Warranties and Limitations for this Guide... 3 Warranties and Limitations for the Form(s) That Are the Subject of this Guide... 4 Other Important Terms for the Use of this Guide... 4 Safe Deposit Box Lease... 5 PART A-LESSOR... 8 PART B-IMPORTANT ACCOUNT OPENING INFORMATION... 8 PART C-APPOINTMENT OF DEPUTY... 8 PART D-OTHER TERMS/INFORMATION... 9 PART E-LESSEES (NAMES AND ADDRESSES)... 9 PART F-LEASE SPECIFICS... 9 PART G-EXECUTION... 10 PART H-INITIALS... 10 PART I-TERMINATION ACKNOWLEDGEMENT... 10 Form PM-SDBL 3/2012 ii
INTRODUCTION USE OF THIS GUIDE. Use of this guide will constitute an express acceptance of all the terms set forth in the "Introduction," "Warranties and Limitations" and "Other Important Terms for the Use of this Guide" sections of this guide. Forms and Purpose. This guide is intended to assist Institutions (banks, credit unions, and other financial institutions) that have purchased the following copyrighted Wolters Kluwer Financial Services form: SDBL - [state abbreviation] Usage. These forms should only be used for the purposes for which they were intended. These forms are intended for use by all Institutions in leasing safe deposit boxes for consumer or commercial purposes. These forms include state-specific Safe Deposit Box Leases for all fifty states and the District of Columbia. These forms replace all of our previous safe deposit box leases, which we recommend no longer be used. Generally, among other features, these forms: Contain numerous state-specific variations; Gather information for CIP/USA PATRIOT Act section 326 purposes; Facilitate the appointment of deputies, attorneys in fact, and agents; Accommodate either assisted or unassisted access to the safe deposit box; Permit a wide range of security procedures, such as keys, combinations, passwords, PINs, signatures, fingerprints, and handprints; Seek to limit the Institution's responsibility to the exercise of reasonable care; Seek to avoid presumptions adverse to the Institution and to avoid its having the burdens of proof, persuasion, and coming forth with evidence; Disclose that the contents are not insured by the Institution or any government program; Prohibit the storage of illegal or dangerous items; Accommodate security deposits; Permit specification of the number of lessees required for access; Permit specification of the number of deputies, attorneys in fact, or agents required to act for a lessee; and Permit you to change most terms on 30 days advance written notice. Format. In this guide, we attempt to answer the most common questions and problems you might confront in completing these forms. This guide is not intended to address state specific laws. The pages of a typical SDBL - [state abbreviation] are copied at the beginning of this guide. This form is used only for illustrative purposes - the forms for your state may differ. Form PM-SDBL 3/2012 1
The explanatory text begins with a simple statement of what should ordinarily be filled in on the line being discussed. In some cases, this simple explanation is followed by a more detailed explanation and cross-references to other portions of the form which need to be considered with the item under discussion. Form Specific. This guide is written solely for use with the above referenced forms. The existence of varying state laws means that some of the terms discussed may not be applicable in your state. Additionally, there may be provisions in the forms developed for your state which are not discussed in this guide. Feel free to call us at our toll-free number (1-800-397-2341) if you need information about specific sections. This guide is not intended to be used with any other forms. Private Attorneys. In developing this guide, the form to which it pertains, and all of our other technical forms, we have interpreted many statutes, cases and regulations. We strongly encourage you to seek the advice of your own attorney concerning the utility of this guide, the legal sufficiency of the form to which it pertains, and all of our other technical forms. Any legal references in this guide are merely to assist you and your counsel in your review of our form and this guide. If you or your counsel's interpretations are contrary to ours, you should, of course, follow your own interpretations in using and completing the form. Comments. We encourage you to comment on and criticize this guide, the form to which it pertains, and all of our other forms. We make every effort to keep up with statutes, case law and financial institution practices, but the industry is constantly evolving and our effort is often assisted by our customers. We especially appreciate copies of any statutes or cases which you might feel are pertinent. Please submit your comments in writing either to your Sales Representative or to: Compliance Services Wolters Kluwer Financial Services 6815 Saukview Drive P.O. Box 1457 St. Cloud, MN 56302-1457 Form PM-SDBL 3/2012 2
Warranties and Limitations Warranties and Limitations for this Guide WARRANTY DISCLAIMER. THIS GUIDE (INCLUDING ANY UPDATES TO IT), IS PROVIDED TO YOU AS IS AND WITH ALL FAULTS. WOLTERS KLUWER FINANCIAL SERVICES (WKFS) DOES NOT EXPRESSLY OR IMPLIEDLY WARRANT THE UTILITY OF THIS GUIDE OR THE INFORMATION THAT IT CONTAINS. THE USER OF THIS GUIDE MUST MAKE HIS/HER OWN INDEPENDENT JUDGMENT ON THESE ITEMS. WKFS MAKES NO WARRANTY, EXPRESS, IMPLIED, BY DESCRIPTION, BY SAMPLE OR OTHERWISE, AND IN PARTICULAR WITHOUT LIMITATION, MAKES NO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS OF PURPOSE REGARDING THIS GUIDE. WKFS employees, sales representatives, and other WKFS agents and representatives do not have authority to create any warranty obligations regarding this guide or to modify the above Warranty Disclaimer. Any such created warranty obligations or modifications will not be effective unless they are in writing and signed by the President or the Chief Financial Officer of WKFS. LIMITATION OF LIABILITY AND REMEDIES. WKFS's liability, whether in contract, warranty, in tort, or otherwise arising in any way in connection with the sale or licensing of this guide (including any updates to it) SHALL NOT INCLUDE LIABILITY FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS, LOSS OR EXPENSE. WKFS's liability for any damages based on the providing, selling, licensing or using of this guide (including any updates to it), regardless of the form of action, shall not be more than the amount you paid for it or ten dollars, whichever is less. TIME LIMIT. No action, regardless of form, arising out of the providing, selling, licensing or using of this guide, may be brought by either party more than one (1) year after the cause of action has occurred, except that this limitation will not apply to an action for non-payment brought by WKFS. NO SUBSTITUTE FOR LEGAL COUNSEL. Before using this guide, you are advised to have your attorney review it to determine its legal sufficiency for your purposes. You acknowledge that WKFS is not authorized to practice law, nor may any of WKFS's officers, employees or agents provide legal counsel or accounting advice to you or your institution. Thus, any questions requiring legal or accounting advice must be directed to your institution's attorney or accounting professional for whom WKFS has no obligation or liability. The following notice is required by law: WOLTERS KLUWER FINANCIAL SERVICES PRODUCTS AND SERVICES ARE NOT A SUBSTITUTE FOR THE ADVICE OF AN ATTORNEY Form PM-SDBL 3/2012 3
Warranties and Limitations for the Form(s) That Are the Subject of this Guide The form(s) that are the subject of this guide are covered by an express warranty as follows: Preprinted Form(s). If you received the form(s) in preprinted format, they are covered by the Compliance Warranty for Lending, Deposit, and Retirement Plan Documents, as it may be updated or amended from time to time. The current Compliance Warranty is located on WKFS's internet website: www.wolterskluwerfs.com. Refer to the website for terms of the warranty. WKFS Software. If you produce the form(s) using WKFS document generating software, they are covered by the express warranty contained in your WKFS software license agreement. Refer to your license agreement for terms of the warranty. Electronic Format. If you received the form(s) in an electronic format ("EForms" or other electronic images) through a license with WKFS or with a third party provider, they are covered by the express warranty contained in your license agreement with WKFS or the third party provider. Refer to your license agreement for terms of the warranty. Other Important Terms for the Use of this Guide APPLICABLE LAW. The terms under which this guide is provided, sold, licensed or used will be governed by the laws of the State of Minnesota without regard to its conflict of laws provisions or those of any other state. Any action relating in any way to this guide will be exclusively venued in a court of competent jurisdiction in the State of Minnesota. COPYRIGHT. No part of this guide or any of WKFS's copyrighted forms may be reproduced by any person, by any means, or for any reason, without WKFS's express written permission. WKFS vigorously enforces its copyright interests and you should be aware that there are criminal penalties as well as civil penalties for violation of copyright law. For additional information about reproducing, licensing, or purchasing this guide, please contact us at: Wolters Kluwer Financial Services North American Law Department 6815 Saukview Drive P.O. Box 1457 St. Cloud, Minnesota 56302-1457 Telephone: 1-800-397-2341 Form PM-SDBL 3/2012 4
Safe Deposit Box Lease Form PM-SDBL 3/2012 5
Form PM-SDBL 3/2012 6
Form PM-SDBL 3/2012 7
PART A-LESSOR A-1 Fill in the name and address of Institution. You may also wish to include your logo here. PART B-IMPORTANT ACCOUNT OPENING INFORMATION To save space, you can use abbreviations, initials, or numbers from the Execution section to identify lessees in this section. B-1 Fill in the birth date of each individual lessee. If there are multiple lessees, indicate the lessee to which each birth date applies. B-2 Fill in the taxpayer identification number of each lessee. If there are multiple lessees, indicate the lessee to which each taxpayer identification number applies. B-3 Fill in the types (such as driver's license), numbers, issuers (such as department of motor vehicles), issue dates, and expiration dates of documents used to verify the identity of each individual lessee. If there are multiple lessees, indicate the lessee to which each such document applies. B-4 Fill in a description and the details of any other identification information (such as a mother's maiden name, persons who will always know a lessee's whereabouts, or documents certifying the existence of a non-individual lessee such as a corporation, partnership, or limited liability company). If there are multiple lessees, indicate the lessee to which each item of such information applies. PART C-APPOINTMENT OF DEPUTY Some of the SDBL-[state abbreviation] forms use the terms "attorney in fact" or "agent," instead of deputy. This section does not need to be completed unless the lessee wishes to appoint a deputy in this section. Deputies can also be appointed by separate documents as stated in the Deputies section of the Terms and Conditions. Moreover, for most states if a lessee is a corporation, partnership, or other non-individual, the persons signing the lease on its behalf are appointed as deputies as stated in the Execution section for those states. C-1 If the lessee is an individual, check the appropriate box to indicate whether or not the appointment is intended to survive the disability or incapacity of the appointing lessee. C-2 Print the name of the appointing lessee. C-3 The appointing lessee should sign here. C-4 Fill in the date of the appointing lessee's signature. C-5 Print the name of the deputy being appointed. C-6 The appointed deputy should sign here. C-7 Fill in the date of the appointed deputy's signature. Form PM-SDBL 3/2012 8
PART D-OTHER TERMS/INFORMATION D-1 Fill in any other terms or information you wish. Possible examples include additional lease terms or additional identification information. If more space is required, a reference to an attachment can be placed here. PART E-LESSEES (NAMES AND ADDRESSES) E-1 Fill in the names and addresses of the lessees here. The addresses here should be the addresses to which notices should be sent. If different addresses are required for CIP/USA PATRIOT Act section 326 purposes, they should be included in B-4 or D-1. PART F-LEASE SPECIFICS If any of the lease specifics in this section are inapplicable, you can so indicate or simply leave them blank. F-1 Fill in the date as of which the parties are entering into the lease. If reference to a former lease date is required, it can be placed in D-1. F-2 Fill in the safe deposit box number and the size of the safe deposit box. F-3 Identify any safe deposit box keys issued. F-4 Identify any vault keys issued. F-5 Fill in the amount of the initial annual rent. F-6 Check the "give you notice" box to provide that the Institution will give the lessee written notice at least 10 days before the rent or any other lease indebtedness is due. (The "give you notice" box should not be checked if the "debit your account no.:" box is checked.) F-7 Check the "debit your account no.:" box and indicate the number of the account to be debited to provide that the Institution will debit that account without notice to the lessee for the rent or any other lease indebtedness. (The "debit your account no.:" box should not be checked if the "give you notice" box is checked.) F-8 Fill in the amount of any security deposit. F-9 Fill in the number of lessees, acting for themselves or through deputies, required to be present for access to the safe deposit box and its contents. F-10 Fill in the number of deputies required to act for a lessee (including being present on behalf of the lessee for access to the safe deposit box and its contents). F-11 Check the appropriate box and complete as necessary to indicate the lease type. Form PM-SDBL 3/2012 9
PART G-EXECUTION G-1 Signatures are required of or on behalf of all lessees. Signatures should be placed to the right of an "X." Note that under the terms of the Execution section for most states if a lessee is a corporation, partnership, or other non-individual, the persons signing on its behalf are appointed and accept appointment as deputies and confirm the lease. G-2 Print name of person signing. G-3 The lease should be signed here for the Institution. PART H-INITIALS H-1 If you use initials, they can be placed here. Note that initials may not automatically go through to the copy. If they don't, they should be placed manually on both the original and the copy. PART I-TERMINATION ACKNOWLEDGEMENT I-1 One or more lessees can sign here to acknowledge on behalf of all lessees that they have removed all contents from the safe deposit box, that they have no further rights to the safe deposit box, and that the Institution has satisfied all its obligations under the lease. I-2 Print the name(s) of the person(s) signing. I-3 Indicate the date of the signing. I-4 Identify any keys returned. I-5 Any representative of the Institution involved at the time of termination can sign here. Form PM-SDBL 3/2012 10
Form PM-SDBL 3/2012 11 Wolters Kluwer Financial Services Form PM-SDBL 3/2012