§ 317. General powers. Every safe deposit company shall, subject to
the limitations and restrictions contained in this article, have the
power:

1. To receive upon deposit as bailee for storage, upon terms and
conditions to be prescribed by the safe deposit company, personal
property and papers of any kind.

2. To engage in the safe deposit business by renting vaults, safe
deposit boxes and other receptacles upon premises occupied by the safe
deposit company upon such terms and conditions as may be prescribed by
the safe deposit company.