Security of Secured Storage Facilities

Section 1480.260  Security of Secured Storage Facilities a)         Each secured storage facility shall be a secure building or have a perimeter that is secured by a fence with locking gates that make the area not accessible to the public and prevent unauthorized access to repossessed collateral or personal property.  All gates shall remain locked at all times but may be temporarily opened to allow for authorized access. b)         Only the following individuals shall have access to repossessed collateral and personal property while it is being stored by the repossession agency: 1)         Persons employed by the repossession agency and agents of the repossession agency; 2)         Other persons lawfully entitled to access to repossessed collateral or to the secured storage facility; and 3)         Collateral owners or agents of collateral owners while either: A)        Accompanied by an employee or agent of the repossession agency; or B)        Under electronic surveillance by an employee or agent of the repossession agency.