Holding & Interest Requirements
escrow / trust account / interest-bearing requirements
Rules in this category (19)
Ann Arbor — Ch. 105 Housing Code
Defraying costs of escrow services • Ann Arbor
Berkeley Mun. Code Chapter 13.76
Security deposits • Berkeley
Chicago, Ill., Mun. Code ch. 5-12
Security deposits • Chicago
D.C. Mun. Regs. tit. 14 et seq.
INTEREST ON SECURITY DEPOSIT ESCROW ACCOUNTS • District of Columbia
765 Ill. Comp. Stat. 715
A lessor of residential real property, containing 25 or more units in either a single building or a complex of buildings located on contiguous parcels of real property, who receives a security deposit from a lessee to secure the payment of rent or compensation for damage to property shall pay interest to the lessee computed from the date of the deposit at a rate equal to the interest paid by the largest commercial bank, as measured by total assets, having its main banking premises in this State on minimum deposit passbook savings accounts as of December 31 of the calendar year immediately preceding the inception of the rental agreement on any deposit held by the lessor for more than 6 months • Illinois
765 Ill. Comp. Stat. 715
The lessor shall, within 30 days after the end of each 12 month rental period, pay to the lessee any interest that has accumulated to an amount of $5 or more, by cash or credit to be applied to rent due, except when the lessee is in default under the terms of the lease. The lessor shall pay all interest that has accumulated and remains unpaid, regardless of the amount, upon termination of the tenancy. A lessor who willfully fails or refuses to pay the interest required by this Act shall, upon a finding by a circuit court that he has willfully failed or refused to pay, be liable for an amount equal to the amount of the security deposit, together with court costs and reasonable attorneys fees • Illinois
L.A. Mun. Code ch. XV art. 1; ch. XVI art. 5
PAYMENT OF INTEREST ON SECURITY DEPOSITS • Los Angeles
14 M.R.S. §§ 6031 et seq.
Treatment of security deposit • Maine
MCL § 554.601 et seq.
Security deposit, disposition; bond. • Michigan
Neb. Rev. Stat. § 76-1450 et seq.
Rental deposit; how handled. • Nebraska
N.J.S.A. 46:8-1 et seq.
Rules, regulations • New Jersey
N.C. Gen. Stat. § 42-1 et seq.
Deposits from the tenant. • North Carolina
Ohio Rev. Code §§ 4781.36–4781.52
Security deposit. • Ohio
Ohio Rev. Code ch. 5321
Procedures for security deposits. • Ohio
41 O.S. § 101 et seq.
Damage or Security Deposits • Oklahoma
68 P.S.
Interest on Escrow Funds Held More Than Two Years • Pennsylvania
68 P.S.
Bond in Lieu of Escrowing • Pennsylvania
Va. Code § 55.1-1200 et seq.
Prepaid rent; maintenance of escrow account. • Virginia
Wash. Rev. Code § 59.18.010 et seq.
Moneys paid as deposit or security for performance by tenant -- Deposit by landlord in trust account -- Receipt -- Remedies under foreclosure -- Claims. • Washington