Loading chat...
ID H0473
Bill
Status
2/22/2022
Primary Sponsor
Business Committee
Click for details
AI Summary
-
Amends Idaho Code Section 6-321 to require security deposits for residential rental premises managed by third-party managers be maintained in separate accounts at institutions insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration.
-
Requires that accounts holding security deposits be kept separate from the third-party manager's operating account.
-
Exempts property owners, managers with common members or principals of the property owner entity, real estate licensees, and nonprofit business organizations from the security deposit account requirements.
-
Declares an emergency, making the act effective upon passage and approval.
Legislative Description
Amends existing law to provide that security deposits for residential rental premises shall be maintained in accounts at institutions insured by the FDIC or the NCUA.
PROPERTY
Last Action
Introduced, read first time; referred to: Commerce & Human Resources
2/23/2022