MO HB1271

Landlords with 20 or more rental units must place security deposits in an escrow account at a federally insured bank with an office accepting deposits within Missouri

The escrow account must be designated specifically for security deposits and cannot be used for landlord business operations

Landlords must disclose the location of the security deposit account to tenants

Tenant claims to security deposit funds take priority over any creditor of the landlord, including trustees in bankruptcy, even if funds are commingled

Existing law retained: security deposits capped at two months' rent, must be returned within 30 days of tenancy termination, and wrongful withholding allows tenant to recover up to twice the amount withheld