Marvin Mandel, Governor                       1805

(ii) An action under this section may be brought at any time
during the tenancy, or within two years after its termination.

(in) This section shall only apply to those leases entered into,
renegotiated, or renewed after the effective date of this subtitle.

43.

(a)    The landlord shall give a tenant a receipt for a security
deposit. The receipt may be included in a written lease.

(b)    The landlord shall be liable to the tenant in the sum of
twenty-five dollars if the landlord fails to provide a written receipt
for a security deposit.

(c)    The receipt or lease shall contain the language of subsection
43A (a) of this Article.

43 A.

(a)    If the landlord imposes a security deposit, he shall upon
WRITTEN request PROMPTLY provide the tenant with a written
list of all damage for which the previous tenant was charged, together
with a statement of the amount of the charges. EXISTING DAM-
AGES. THE REQUEST MUST BE MADE WITHIN 15 DAYS OF
THE TENANT'S OCCUPANCY.

(b)    Failure to provide the tenant with such a written statement
shall make the landlord liable to the tenant for threefold the amount
of the security deposit. The total amount of damages shall be sub-
ject to a setoff for damages and unpaid rent which could reasonably
be withheld under this section.

43B.

(a)    The landlord shall maintain all security deposits in a fed-
erally or state-insured banking or saving institution within the
State of Maryland. The account shall be devoted exclusively
to security deposits, and may bear interest.

(b)    A security deposit shall be deposited in such an account
within 30 days after receipt of the security deposit by the landlord.

(a) Security deposit accounts shall be trust accounts, with the

landlord acting in a fiduciary capacity and relationship for the bene-
fit of his tenants. Security deposits shall be free from any attachment
by creditors.

(b) (C) In the event of sale or transfer of any sort, including, but
not limited to, receivership or bankruptcy, the security deposit shall
be binding on the successor in interest to the person to whom the
deposit is given. SECURITY DEPOSITS SHALL BE FREE FROM
ANY ATTACHMENT BY CREDITORS.

(c) (D) Any successor in interest shall act in a fiduciary capacity
and relationship with the security deposits, for the tenants and shall
be liable to the tenant for failure to return the security deposit, to-
gether with interest, as provided in this subtitle.

43C.