(1) Except as described in subsection (2) of this section, a landlord shall not require a tenant to submit a security deposit in an amount that exceeds the amount of two monthly rent payments under the rental agreement.
(2) On and after January 1, 2027, subsection (1) of this section does not apply if the landlord and tenant have executed a post-closing occupancy agreement pursuant to a purchase contract whereby the landlord purchased the residence from the tenant.
Source: L. 2023: Entire section added, (SB 23-184), ch. 402, p. 2413, § 5, effective August 7. L. 2026: Entire section amended, (SB 26-054), ch. 61, p. 251, § 1, effective August 12.