Questions regarding the collection of past due box rent, drilling delinquent boxes, securing drilled and inventoried box contents, reporting abandoned property to state authorities and many other legal and compliance issues have caused concern and confusion for the safe deposit industry. In this webinar, you'll receive current information, step-by-step procedures, and an in-depth explanation about how to handle these issues and how they impact your financial institution and your safe deposit box renters.

You'll receive clear, concise answers to complicated questions regarding your institution's responsibility and potential liability. You'll also learn about various compliance issues and current lawsuits relating to these issues.What You'll Learn:

• Why did 15 financial institutions get sued recently after drilling past due boxes?
• How does the Servicemembers Civil Relief Act (SCRA) apply to delinquent boxes?
• What would happen if all your unclaimed property was destroyed or disappeared?
• When are drilled box contents reported to your Unclaimed Property Department?
• Do you have any "Right of Offset" against a past due renter's deposit account?
• What seven past due fees should be collected from all delinquent box renters?
• What does the Unclaimed Property Department do with these box contents?
• Have there been any lawsuits caused by incorrect box drilling procedures?
• If cash is found in a drilled box can it be converted and mailed in a check?
• How do you handle dangerous or illegal contents found in a drilled box?
• Can you sell these box contents and recover your collection expenses?
• Who must be present when a past due box is drilled in most states?
• Can you report a past due box renter to a credit-reporting agency?
• What careful wording should be used in a FINAL past due notice?
• What should you do if money, guns or drugs are found in a box?
• What is the required retention period for drilled box records?
• Can you legally restrict box access to a delinquent renter?
• Must these boxes be drilled before reporting to the state?
• What should you do if you drill the wrong past due box?