North Dakota HB1272: A BILL for an Act to create and enact a new section to chapter 47-16 of the North Dakota Century Code, relating to move-in and post move-out inspections of leased property; and to amend and reenact section 47-16-07.1 of the North Dakota Century Code, relating to tenant security deposits.

What the bill says

A bill for an Act to create and enact a new section to chapter 47-16 of the North Dakota Century Code, relating to move-in and post move-out inspections of leased property; and to amend and reenact section 47-16-07.1 of the North Dakota Century Code, relating to tenant security deposits.

From the introduced text, January 13, 2025:

A BILL for an Act to create and enact a new section to chapter 47-16 of the North Dakota Century Code, relating to move-in and post move-out inspections of leased property; and to amend and reenact section 47-16-07.1 of the North Dakota Century Code, relating to tenant security deposits. BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA: SECTION 1. AMENDMENT. Section 47-16-07.1 of the North Dakota Century Code is amended and reenacted as follows: 47-16-07.1. Real property and dwelling security deposits - Limitations and requirements. 1. The lessor of real property or a dwelling who requires money as a security deposit, however denominated, shall deposit the money in a federally insured interest-bearing savings or checking account for the benefit of the tenant. The security deposit and any interest accruing on the deposit must be paid to the lessee upon termination of a lease, subject to the conditions of subsection 2. A lessor may not demand or receive security, however denominated, in an amount or value in excess of one month's rent, except: a. A lessor may accept an amount or value up to two month's rent, as security, from an individual convicted of a felony offense as an incentive to rent the property to the individual. b. A lessor may demand an amount or value up to two …

Read the full official text

Sponsors