{"data":{"id":"us-nc/n.c.-gen.-stat.-42a-15","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 42A-15","heading":"Trust account uses.","body":"A landlord or real estate broker may require a tenant to pay all or part of any required rent, security deposit, or other fees permitted by law in advance of the commencement of a tenancy under this Chapter if these payments are expressly authorized in the vacation rental agreement. If the tenant is required to make any advance payments, other than a security deposit, whether the payment is denominated as rent or otherwise, the landlord or real estate broker shall deposit these payments in a trust account in a federally insured depository institution or a trust institution authorized to do business in this State no later than three banking days after the receipt of these payments. These payments deposited in a trust account shall not earn interest unless the landlord and tenant agree in the vacation rental agreement that the payments may be deposited in an interest-bearing account. The landlord and tenant shall also provide in the agreement to whom the accrued interest shall be disbursed. (1999-420, s. 1; 2014-115, s. 3; 2015-93, s. 3; 2017-25, s. 2(b).)","path":["Chapter 42A. Vacation Rental Act.","Article 3. Handling and Accounting of Funds."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_42A/GS_42A-15.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:02:37Z","sha256":"3053fc2e0cd7a2126bae9865000384ea6d4cd096415ff374f0b79f25dbdd95fa","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-42a-12-through-42a-14","next":"us-nc/n.c.-gen.-stat.-42a-16"},"notice":"GroundRules: Original legal text. Not legal advice."}