N.J. Stat. Ann. § 46:8-1 et seq. § 46:8-19.1
Rules, regulations
Operative Text
The Commissioner of Banking may, in his discretion, promulgate rules and regulations with respect to the establishment of the method of computing the interest due to either the person receiving the money as a security deposit or to the tenant pursuant to the provisions of P.L.1967, c.265 (C.46:8-19 et seq.) or P.L.1971, c.223 (C.46:8-21.1 et seq.) if the money is deposited in an account or in shares of an investment company upon which the interest varies on a periodic basis. L. 1985, c. 42, s. 5, eff. Aug. 1, 1985.
Under N.J.S.A. 46:8-1 et seq. § 46:8-19.1, the New Jersey Commissioner of Banking is authorized to issue rules and regulations governing how interest on security deposits is calculated when those deposits are held in variable-rate accounts or investment company shares. This provision gives the Commissioner discretionary authority to set the computational method, ensuring a consistent standard applies when interest rates fluctuate over time. The rule applies to deposits covered by the two underlying statutes addressing security deposit interest obligations.
Plain English — not legal advice.
Property owners and managers who hold security deposits in variable-rate accounts or investment company shares should be aware that N.J.S.A. 46:8-1 et seq. § 46:8-19.1 empowers the Commissioner of Banking to establish the specific method for calculating interest owed on those deposits. Compliant operators generally monitor any rules or regulations the Commissioner has promulgated under this authority and apply the prescribed calculation method when determining interest due. Staying current with any administrative guidance issued under this provision helps ensure that security deposit interest is computed correctly.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
N.J.S.A. 46:8-1 et seq. § 46:8-19.1 establishes that the Commissioner of Banking may set rules for how interest on your security deposit is calculated when it is held in a variable-rate account or investment company shares. If you believe the interest returned to you was not computed in accordance with any regulations issued under this provision, you may consider reviewing those administrative rules or reaching out to a tenant-rights organization for general information. Tenants can also contact the New Jersey Department of Community Affairs, which oversees landlord-tenant matters, to learn about available complaint or inquiry processes.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 6, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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