Sec. 36a-226a. Termination of contracts for bailment, deposit for hire or lease of safes, vaults or safe deposit boxes. Duties of receiver when property not removed.
Sec. 36a-226a. Termination of contracts for bailment, deposit for hire or lease
of safes, vaults or safe deposit boxes. Duties of receiver when property not removed.
(a) A contract between a trust bank or uninsured bank in receivership and another person
for bailment, of deposit for hire, or for the lease of a safe, vault or safe deposit box
terminates on the date specified for removal of property in the notices that were published
and mailed in accordance with section 36a-225 or a later date approved by the receiver
or the Superior Court. A person who has paid rental or storage charges for a period
extending beyond the date designated for removal of property has a claim against such
bank's estate for a refund of the unearned amount paid.
(b) If the property is not removed by the date the contract terminates, the receiver
shall inventory the property. In making the inventory, the receiver may open a safe, vault
or safe deposit box, or any package, parcel, or receptacle in the custody or possession of
the receiver. The property shall be marked to identify, to the extent possible, its owner
or the person who left it with the bank. After all property belonging to others that is in
the receiver's custody and control has been inventoried, the receiver shall compile a list
that is divided for each office of the bank that received property that remains unclaimed.
The receiver shall publish, in a newspaper of general circulation in each town in which
the bank had an office that received property that remains unclaimed, the list and the
names of the owners of the property as shown in the bank's records. The published
notice shall specify a procedure for claiming the property unless the court, on application
of the receiver, approves an alternate procedure.
(P.A. 04-136, S. 28.)
History: P.A. 04-136 effective May 12, 2004.