South Dakota Codified Laws 51A-11-5. Minor’s lease of safe deposit
Current as of: 2023 | Check for updates
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A bank may lease a safe deposit box to and in connection therewith deal with a minor with the same effect as if leasing to and dealing with a person of full legal capacity.
Terms Used In South Dakota Codified Laws 51A-11-5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1969, ch 11, § 9.5; SDCL, § 51-23-5.