1. Where the renter fails to pay the box rent on the due dates, the bank may, after the lapse of (15) fifteen days, unless further periods are agreed upon, from the date of a notice served to the renter requiring payment, consider the contract as automatically terminated and recover the box, after serving notice to the renter to report to the bank to open the box, empty its contents and deliver its key. The notice shall be valid if served to the last address specified by the renter to the bank. 2. Where the renter fails to report on the date set or if the contract term expires, the bank may, under a Writ Petition, request the competent judge of the court in whose jurisdiction the bank is located to give it permission to open the safe deposit box and empty it in the presence of a person delegated by the judge for such purpose. A report on the incident shall be drawn up listing the contents and shall be signed by the judge delegate and the bank. The judge may order that the contents be deposited with the bank, or with a trustee appointed by the court, until they are handed to their owner or until the judge orders that the same be disposed of.
Interpretation and application must be checked against the official text and current version.