(I) IN LIEU OF THE ACCOUNTS DESCRIBED IN PARAGRAPH (1) OF
THIS SUBSECTION, THE LANDLORD MAY HOLD THE SECURITY DEPOSITS IN INSURED
CERTIFICATES OF DEPOSIT AT BRANCHES OF FEDERALLY INSURED FINANCIAL
INSTITUTIONS, AS DEFINED IN § 1-101 OF THE FINANCIAL INSTITUTIONS ARTICLE,
LOCATED IN THE STATE OR IN SECURITIES ISSUED BY THE FEDERAL GOVERNMENT
OR THE STATE OF MARYLAND.

(II) IN THE AGGREGATE CERTIFICATES OF DEPOSIT OR SECURITIES
SHALL BE SUFFICIENT IN AMOUNT TO EQUAL ALL SECURITY DEPOSITS AND
ACCRUED INTEREST FOR WHICH THE LANDLORD IS LIABLE.

(3) In the event of sale or transfer of [any sort, including receivership or
bankruptcy, the security deposit is binding on the successor in interest to the person
to whom the deposit is given. Security deposits are free from any attachment by
creditors] THE LANDLORD'S INTEREST IN THE LEASED PREMISES, INCLUDING
RECEIVERSHIP OR BANKRUPTCY:

(I), THE LANDLORD OR THE LANDLORD'S ESTATE. BUT NOT THE
MANAGING AGENT OR COURT APPOINTED RECEIVER, SHALL REMAIN LIABLE TO THE
TENANT AND THE TRANSFEREE FOR MAINTENANCE OF THE SECURITY DEPOSIT AS
REQUIRED BY LAW, AND THE WITHHOLDING AND RETURN OF SECURITY DEPOSIT
PLUS INTEREST AS REQUIRED BY LAW, AS TO ALL OR ANY PORTION OF THE SECURITY
DEPOSIT THAT THE LANDLORD FAILS TO DELIVER TO THE TRANSFEREE TOGETHER
WITH AN ACCOUNTING SHOWING THE AMOUNT AND DATE OF THE ORIGINAL
DEPOSIT, THE RECORDS OF THE INTEREST RATES APPLICABLE TO THE SECURITY
DEPOSIT, IF ANY, THE NAME AND LAST KNOWN ADDRESS OF THE TENANT FROM
WHOM, OR ON WHOSE BEHALF, THE DEPOSIT WAS RECEIVED, A CALCULATION OF
INTEREST THAT IS PAYABLE TO THE TENANT AS OF THE DATE OF TRANSFER AND A
COPY OF ANY LIST OF DAMAGES THAT WAS PROVIDED TO THE TENANT FOR ANY
TENANT WHOSE TENANCY TERMINATED WITHIN 1 YEAR PRIOR TO THE DATE OF
TRANSFER.

(II) THE TRANSFEREE SHALL BE LIABLE TO THE TENANT FOR THE
SECURITY DEPOSIT THAT THIS SECTION REQUIRES TO BE TRANSFERRED, WHETHER
OR NOT IT IS ACTUALLY RECEIVED FROM THE LANDLORD.

(4) Any successor in interest is liable to the tenant for failure to return
the security deposit, together with interest, as provided in this section.

[(f)] (E) (1) Within 45 days after the end of the tenancy, the landlord shall
return the security deposit to the tenant together with simple interest which has
accrued in the amount of 4 percent per annum, less any damages rightfully withheld.

(2) Interest shall accrue at six-month intervals from the day the tenant
gives the landlord the security deposit. Interest is not compounded.

(3) Interest shall be payable only on security deposits of $50 or more.