OK HB2432

Amends 41 O.S. 2011, Section 115 to require landlords to maintain tenant security deposits in an escrow account at a federally insured Oklahoma financial institution.

Makes misappropriation of security deposits unlawful, punishable by county jail time up to 6 months and a fine up to twice the misappropriated amount.

Adds civil penalty of three times the misappropriated security deposit amount in addition to existing criminal penalties.

Requires landlords to return security deposit balance within 30 days after tenancy termination and written demand, with itemized deductions for rent and damages provided via certified mail.

Becomes effective November 1, 2014.