Turn Box Holder over to Collection Agency?

Question:

Recently, my bank drilled a couple of safe deposit boxes and they were empty. Can we turn the box holder over to a collection agency, if we give them a notice that we will be sending the drilling fee and past due payment to a collection agency?

Answer:

There is no body of law that governs safe deposit boxes beyond what you find in state statutes, state court decisions, and, most importantly, your lease. Past due rent on a box is like past due rent on a house or a tractor; i.e. if you want to turn it over to a collection agency you can.

First published on BankersOnline.com 01/02/12