43-32-6.1 Maximum security deposit for residential premises--Larger deposit by mutual agreement.
Maximum security deposit for residential premises--Larger deposit by mutual
Any deposit of money, the function of which is to secure the performance of a residential
rental agreement or any part of such an agreement, shall be deemed to be a security deposit. A lessor
of residential premises may not demand or receive a security deposit, however denominated, in an
amount or value in excess of one month's rent except that a larger deposit may be agreed upon
between the lessor and the lessee where special conditions pose a danger to maintenance of the
Source: SL 1976, ch 267, § 2.