Summary
In order to address compliance inquiries from members, the Indiana Bankers Association provides Compliance Connection - an assistance program offering advice on Indiana-specific compliance questions. One question concerned new provisions under Indiana law regarding access to a safe deposit box when a box holder has died. The question asks what does the new law require of the bank. Among other things, the order in which persons have access to the safe deposit box of someone who has died is specified in the statute. The language used in the statute is "shall," meaning the bank must grant access in the following order, including first and foremost to a surviving joint lessee upon presentation of proof that the person is a joint lessee.
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About Compliance Connection
In order to address compliance inquiries from members, the Indiana Bankers Association provides Compliance Connection-an assistance program offering advice on Indiana-specific compliance questions. If the matter requires legal advice, IBA Compliance Connection will refer the bank to a law firm. The material in this issue was prepared by Jan Oiler, former IBA compliance consultant. To utilize the IBA Compliance Connection, submit questions to Amber R. Van Til at the IBA at 317-387-9380, ...
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