1. (a) Lease. For purposes of Section 1302 of the Code, the term "receipt" shall mean a copy of the lease contract but does not mean that the lessor must provide a receipt for any or all items deposited in a safe deposit box.

2. (b) Requirements. Each lessor that provides safe deposit box services for its customers shall:

   1. (1) Maintain a record as to the lessee(s) of each box rented.
   2. (2) Maintain a record as to the person or persons permitted to enter the box

   () with minimum data consisting of names of entries into the box and dates of entry.

   1. (3) Establish other precautionary procedures as may be deemed advisable by the institution's board of directors to insure adequate safety to the lessees with a minimum of liability on the lessor.

Amended at 25 Ok Reg 1064, eff 5-25-08