Any safe deposit company which complies with the provisions of this chapter shall have power:
(1) to let out or rent as lessor, for hire, safe deposit boxes, upon such terms and for such compensation as may be agreed upon by such safe deposit company and the lessee; and
(2) to take and receive valuable personal property for safekeeping and storage, as bailee, for hire, upon such terms and for such compensation as may be agreed upon by such safe deposit company and the bailor. No such safe deposit company shall make any loans or advances upon any valuable personal property so left with it for safekeeping and storage.
(7747-2) 1933 c 340 s 2; 1945 c 114 s 2
Structure Minnesota Statutes
Chapter 55 — Safe Deposit Companies
Section 55.03 — License Required.
Section 55.041 — Annual License Fee.
Section 55.06 — Business Not To Be Conducted Without License.
Section 55.07 — Deposits, How Kept; Accounts Kept.
Section 55.08 — License Posted.
Section 55.095 — Duties Of Commissioner Of Commerce.
Section 55.10 — Liability; Exemptions.
Section 55.11 — Not Charged With Notice Of Fiduciary Relation.