N.Y. Banking Law § 338: Notice to renters of safe deposit boxes regarding insurance

§ 338. Notice to renters of safe deposit boxes regarding insurance. 1.

Any banking organization or safe deposit company which offers safe

deposit boxes for rent shall provide each customer at the time of rental

with a copy of a safe deposit box rental agreement. Such agreement shall

include, on its face, or on an attachment thereto a notice in at least

eight point bold type reading as follows:

Important Notice: (1) The contents of your safe deposit box

may not be fully protected against loss under the insurance

coverage maintained by the bank or safe deposit company. (2)

For your protection, you may wish to secure your own insurance

through an insurance company of your choice. (3) You should

keep a complete list and description of all property stored in

your safe deposit box, and any available proof of ownership.

2. The notice required under subdivision one of this section shall

also appear on all subsequent rental bills or attachments thereto.