MO HB162

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

The escrow account must be designated specifically as a security deposits account and cannot be used for the landlord's business operations

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

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

Amends Section 535.300, RSMo, adding these requirements to existing security deposit law (which caps deposits at two months' rent and requires return within 30 days of tenancy termination)