Yep, my refrigerators are magnetic latches. Usually local Fire codes limit the amount of powder you can keep on hand The last time I checked it was about 50lbs. Safe or not, if it is above the code limit and you have a fire, you could be in for some serious negotiations with your insurance company.
I"m code enforcement in town. I"m GLAD I don't have codes or enforcement where we live. We stick our noses way to much in other folks business IMHO.