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An Act To Eliminate the Interest on Security Deposits for Mobile Homes
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §9098, sub-§2, ¶B,  as enacted by PL 1987, c. 737, Pt. B, §1 and Pt. C, §106 and amended by PL 1989, c. 6; c. 9, §2; and c. 104, Pt. C, §§8 and 10, is further amended to read:
 
B.  A mobile home park operator shall return to a tenant the full security deposit deposited with the landlord by the tenant, plus 4% annual interest or, if there is actual cause for retaining the security deposit or any portion of it, the mobile home park operator shall provide the tenant with a written statement, itemizing the reasons for the retention of the security deposit or any portion of it, within 21 days after the termination of the tenancy or the surrender and acceptance of the premises, whichever occurs first.
 
(1) The written statement itemizing the reasons for the retention of any portion of the security deposit must be accompanied by a full payment of the difference between the security deposit and the amount retained.
 
(2) The mobile home park operator is deemed to have complied with this section if the operator mails the statement and any payment required to the tenant's last known address.
 
(3) Nothing in this section precludes the mobile home park operator from retaining the security deposit for nonpayment of rent or nonpayment of utility charges whichthat the tenant was required to pay directly to the mobile home park operator.
 
SUMMARY
This bill eliminates the requirement that a mobile home park operator pay to a tenant 4% annual interest on the security deposit deposited with the landlord by the tenant.