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BankersOnline.com Forums State-Specific Compliance Issues Minnesota Safe Dep Box POD
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#1821131 - 06/06/13 06:26 PM Safe Dep Box POD
Banker57 Offline
Gold Star
Joined: Jul 2010
Posts: 439
Minnesota
Can a safe deposit box account owner designate a beneficiary for the SDB?

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#1821157 - 06/06/13 07:15 PM Re: Safe Dep Box POD Banker57
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 85,331
Galveston, TX
I thought that was only allowed in Oklahoma and only to search for a will.
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#1821237 - 06/06/13 08:41 PM Re: Safe Dep Box POD rlcarey
RR Sarah Offline
Power Poster
RR Sarah
Joined: Mar 2004
Posts: 2,514
Up North
In the State of Minnesota, upon the death of a customer the bank can only grant access to a court-appointed person except in certain limited circumstances (very limited).

When the customer opens the box, they can appoint a deputy but that relationship is severed upon the customers death.

The Minnesota Bankers Association has a Safe Deposit Box manual available. It is very helpful.
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