TX Senate Bill 1400 | NNA
Law

TX Senate Bill 1400

Notary Law Update: TX Senate Bill 1400

State: Texas

Summary:

Senate Bill 1400 modifies the procedures for using a Notary in relation to the opening of safe deposit boxes.

Signed:  June 15, 2017

Effective:  September 01, 2017

Chapter: TBD

Affects:

Amends Sections 33.002, 59.109, and 202.001 to and repeals Sections 202.203(b), (c) and (d) of the Finance Code

Changes:
  1. Clarifies that if the delinquent rent for a safe deposit box is not paid, the rental agreement is terminated, or the contents are not retrieved, the safe deposit company may open and inventory the contents of the safe deposit box in the presence of two employees, one of whom must be a Notary. 
Analysis:

Many states require a Notary to be present when a financial institution opens a safe deposit box containing personal articles and effects. The Notary is there to ensure that all contents are present and documented. SB 1400 clarifies that if the delinquent rent on a safe deposit box is not paid or, if the rental agreement is terminated and the contents are not retrieved before the date specified in the notice to the lessee, then a Notary must be enlisted to assist in the opening and inventorying of the safe deposit box.

Read the bill text.

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