Abstract: A latch for securing a storage container is described, and which includes a longitudinally moveable spindle member, which extends and is otherwise biasingly supported by a closure member, and which is mounted on and moveable relative to the storage container; a pinion mounted on a distal end of the spindle, and which forcibly engages an elongated locking member; and a latch control collar mounted on the spindle, and which, when selectively moved, allows the spindle to be selectively rotated so as to locate the locking member in given positions so as to secure the closure member.