It is unlawful for a person to use the words "safe deposit", "safety deposit", or other similar words in connection with the rental of storage space, or in the title or name under which business is done.
A person subject to the jurisdiction of the State Board of Financial Institutions, a manufacturer or dealer in safe deposit facilities or equipment, or an association, the membership of which is composed of officers or institutions subject to the jurisdiction of the board or the banking department of other states or of the United States, are exempt.
A person who violates the provisions of this section is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than one year, or both.
HISTORY: 1962 Code Section 8-511; 1952 (47) 1932; 1993 Act No. 184, Section 207, eff January 1, 1994.
Effect of Amendment
The 1993 amendment rewrote this section so as to change the maximum term of imprisonment to conform to the classification established for each offense.
Structure South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 19 - Safe-deposit Boxes
Section 34-19-10. Definitions.
Section 34-19-20. Safe deposit business authorized.
Section 34-19-30. Lease of box to minor.
Section 34-19-40. Access to box of fiduciary.
Section 34-19-50. Access to box of decedent; removal of contents.
Section 34-19-60. Refusal of access because of adverse claim.
Section 34-19-70. Opening box when rental is one year in default.
Section 34-19-80. Sale of contents unclaimed for two years.
Section 34-19-90. Disposition of proceeds of sale of contents.
Section 34-19-100. Destruction of private documents of no apparent value.
Section 34-19-110. Use of words "safe deposit" or "safety deposit".