Which entity is described as a safe deposit company?

• A. Any corporation authorized under the banking law to let out receptacles for safe deposit of personal property.
• B. The surrogate's court clerk.
• C. A credit union.
• D. A title company.

Answer: (A)

A safe deposit company is a corporation authorized under the banking law to rent receptacles for the safe deposit of personal property. This definition explains why the first option fits: only a entity with banking-law authorization to provide safe-keeping facilities for valuables qualifies as a safe deposit company. The surrogate's court clerk is a court official and doesn’t operate safes or safekeeping services. A credit union is a member-owned financial cooperative focused on savings and loans, not safekeeping facilities. A title company handles real estate title work and closings, not safekeeping of valuables.