NY A07018

Requires banking organizations and safe deposit companies to include a schedule of all fees and charges in safe deposit box rental agreements in at least 14-point type

Mandates that banking organizations and safe deposit companies report all fees and charges imposed on safe deposit box lessees in their annual reports to the Superintendent

Prohibits rental agreements from imposing access fees on lessees during acts of God, common disasters, or emergency situations that prevent access to the box

Directs the Superintendent to promulgate rules and regulations necessary to implement these provisions

Takes effect immediately and applies to all safe deposit box rental agreements entered into on or after the effective date