Limits security deposits to one month's rent; requires landlords to return the full security deposit and any accrued interest to which the tenant is entitled less any amount retained by the landlord within 21 days of the end of the lease.
Requires landlords to provide tenants with a rent ledger containing a detailed record, including the amount, date and method of payment, of all financial transactions between such lessee and lessor, including rent payments, late fees, and security deposits.
Provides for multiple-person accounts; requires a signature card; provides that absent indication to the contrary, funds remaining in such an account upon the death of the depositor shall be deemed part of the depositor's estate.
Relates to minority depository institutions which apply to establish a home or branch office in an unbanked or underbanked community; provides that such institutions shall be entitled to receive deposits from the state comptroller and the commissioner of taxation and finance.