Colombian Commercial Code - Decree 410 of 1971 - Book IV - Of Contracts and Corporate Obligations - Title XVII - Of the Bank Agreements - Chapter VII - Safety deposit boxes - From: Section 1416 to: 1425 Art
CHAPTER VII
Safety Deposit Boxes
Section 1416 .- Banking institutions may hold the contract of safety deposit boxes for stored goods.
Section 1417 .- The banking institutions accountable for the integrity and suitability of the boxes and be forced to maintain free access to these users, in the days and hours specified in the contract, or the usual.
Also answer for any damage suffered by customers, except force majeure
Section 1418 .- The banking establishment will only allow access to the site where the boxes are, users or their representatives and, under its responsibility, its employees or dependents.
If the box contained the name of several people, opening it to allow any of the owners, unless otherwise agreed. In case of death, disability or (bankruptcy) * one of them, others retain their rights as provided in this article, but the opening will be done by a notary as provided in Article 1421 and shall be held by the bank only the goods that appear ostensibly as property of the deceased, incompetent or bankrupt.
* Open compulsory liquidation proceedings.
Section 1419 .- Unless otherwise provided, the term of the contract is indefinite but the parties may unilaterally terminate it at any time by notice to the other party in writing, within thirty days at least before. In this case, returns the banking establishment not caused the price to be received.
Section 1420 .- The delay in paying the price as agreed will result in termination of the contract, two weeks after being required in writing compliance by the bank.
Section 1421 .- If the termination of the contract the user is not available to the establishment the deposit box, it will require in writing to do so, and after thirty days from the date of such communication shall openness and unemployment notary. During the inquiry will arise inventories of goods contained in the search box. In this case, the inventoried goods remain in deposit with the establishment, who is liable for the willful misconduct or gross negligence. Such property shall be deposited to user commands under the Code of Civil Procedure.
Section 1422 .- In cases in which the bank becomes aware of facts which may represent a clear danger to the security of the boxes, shall take appropriate measures to enable users to vacate before the risk materializes.
The establishment, however, not obliged to give individual notices to the users, sufficient, therefore, reported in general.
If the risk is imminent, the establishment may take action it deems appropriate and even proceed to open and vacate the boxes. In this case, a notary shall, without delay, the diligence of the article is about 1421.
Section 1423 .- Delivered to the user key must be returned to the bank and if he loses he will assume the costs of opening and replacement of the deposit box key.
Section 1424 .- The establishment shall keep a duplicate key given to the customer, deposited immediately before the officer designated by the banking superintendent.
The duplicate may be withdrawn only at the joint request of the user and the bank, in the case of a lost original, or directly by it, when authorized or is required to open the deposit box without the assistance of the user.
Section 1425 .- If it is agreed a set period of contract duration and the user does not restore the key to maturity, the banking establishment is entitled to regard the contract extended for an equal period.
Unless otherwise provided, if the banking institution received after the expiration of the contract payment for the same shall be deemed to agree to an extension.
Section 1417 .- The banking institutions accountable for the integrity and suitability of the boxes and be forced to maintain free access to these users, in the days and hours specified in the contract, or the usual.
Also answer for any damage suffered by customers, except force majeure
Section 1418 .- The banking establishment will only allow access to the site where the boxes are, users or their representatives and, under its responsibility, its employees or dependents.
If the box contained the name of several people, opening it to allow any of the owners, unless otherwise agreed. In case of death, disability or (bankruptcy) * one of them, others retain their rights as provided in this article, but the opening will be done by a notary as provided in Article 1421 and shall be held by the bank only the goods that appear ostensibly as property of the deceased, incompetent or bankrupt.
* Open compulsory liquidation proceedings.
Section 1419 .- Unless otherwise provided, the term of the contract is indefinite but the parties may unilaterally terminate it at any time by notice to the other party in writing, within thirty days at least before. In this case, returns the banking establishment not caused the price to be received.
Section 1420 .- The delay in paying the price as agreed will result in termination of the contract, two weeks after being required in writing compliance by the bank.
Section 1421 .- If the termination of the contract the user is not available to the establishment the deposit box, it will require in writing to do so, and after thirty days from the date of such communication shall openness and unemployment notary. During the inquiry will arise inventories of goods contained in the search box. In this case, the inventoried goods remain in deposit with the establishment, who is liable for the willful misconduct or gross negligence. Such property shall be deposited to user commands under the Code of Civil Procedure.
Section 1422 .- In cases in which the bank becomes aware of facts which may represent a clear danger to the security of the boxes, shall take appropriate measures to enable users to vacate before the risk materializes.
The establishment, however, not obliged to give individual notices to the users, sufficient, therefore, reported in general.
If the risk is imminent, the establishment may take action it deems appropriate and even proceed to open and vacate the boxes. In this case, a notary shall, without delay, the diligence of the article is about 1421.
Section 1423 .- Delivered to the user key must be returned to the bank and if he loses he will assume the costs of opening and replacement of the deposit box key.
Section 1424 .- The establishment shall keep a duplicate key given to the customer, deposited immediately before the officer designated by the banking superintendent.
The duplicate may be withdrawn only at the joint request of the user and the bank, in the case of a lost original, or directly by it, when authorized or is required to open the deposit box without the assistance of the user.
Section 1425 .- If it is agreed a set period of contract duration and the user does not restore the key to maturity, the banking establishment is entitled to regard the contract extended for an equal period.
Unless otherwise provided, if the banking institution received after the expiration of the contract payment for the same shall be deemed to agree to an extension.
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