§ 12–602
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 12-602 (2026)
Title 12. Miscellaneous Institutions and Activities
Subtitle 6. Safe-Deposit Companies
§ 12–602LinkCopy Citation
(a)
In this section, “fiduciary” includes the fiduciary’s successor.
(b)
Except as provided in subsection (c) of this section, if a safe-deposit company rents a safe-deposit box to a fiduciary, the safe-deposit company may not permit access to the safe-deposit box:
(1)
By any person other than the fiduciary; and
(2)
If the safe-deposit box is rented to two or more fiduciaries, by less than all of the fiduciaries in person.
(c)
The safe-deposit company may permit access to the safe-deposit box by:
(1)
Any individual authorized by all of the fiduciaries, in accordance with a rental agreement, written power of attorney, or other written authority signed by each fiduciary and filed with the safe-deposit company; and
(2)
Less than all of the fiduciaries, in accordance with a rental agreement, written power of attorney, or other written authority signed by the remaining fiduciaries and filed with the safe-deposit company.