Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
50.11 SECURITIES HELD FOR SAFEKEEPING; SAFE DEPOSIT BOXES;
LIMITATION OF LIABILITY.
A savings bank may receive for safekeeping for its depositors obligations of the United
States or its possessions or of a state or territory of the United States, or of any political
subdivision of any such state or territory, and it may provide for, and hire to, its depositors safe
deposit boxes in which to keep securities and valuable papers, but the liability of a savings bank
to any person or association of persons on account of hiring such safe deposit box or boxes
shall in no event exceed $20,000.
History: (7710) 1923 c 312 s 1; 1995 c 171 s 39
LIMITATION OF LIABILITY.
A savings bank may receive for safekeeping for its depositors obligations of the United
States or its possessions or of a state or territory of the United States, or of any political
subdivision of any such state or territory, and it may provide for, and hire to, its depositors safe
deposit boxes in which to keep securities and valuable papers, but the liability of a savings bank
to any person or association of persons on account of hiring such safe deposit box or boxes
shall in no event exceed $20,000.
History: (7710) 1923 c 312 s 1; 1995 c 171 s 39
Official Publication of the State of Minnesota
Revisor of Statutes