{"data":{"id":"us-ok/okla.-stat.-tit.-41-41-115","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 41, § 41-115","heading":"Damage or security deposits","body":"A. Any damage or security deposit required by a landlord of a\n\ntenant must be kept in an escrow account for the tenant, which\n\naccount shall be maintained in the State of Oklahoma with a\n\nfederally insured financial institution. Misappropriation of the\n\nsecurity deposit shall be unlawful and punishable by a term in a\n\ncounty jail not to exceed six (6) months and by a fine in an amount\n\nnot to exceed twice the amount misappropriated from the escrow\n\naccount.\n\nB. Upon termination of the tenancy, any security deposit held\n\nby the landlord may be applied to the payment of accrued rent and\n\nthe amount of damages which the landlord has suffered by reason of\n\nthe tenant's noncompliance with this act and the rental agreement,\n\nall as itemized by the landlord in a written statement delivered by\n\nmail to be by return receipt requested and to be signed for by any\n\nperson of statutory service age at such address or in person to the\n\ntenant if he can reasonably be found. If the landlord proposes to\n\nretain any portion of the security deposit for rent, damages or\n\nother legally allowable charges under the provisions of this act or\n\nthe rental agreement, the landlord shall return the balance of the\n\nsecurity deposit without interest to the tenant within forty-five\n\n(45) days after the termination of tenancy, delivery of possession\n\nand written demand by the tenant. If the tenant does not make such\n\nwritten demand of such deposit within six (6) months after\n\ntermination of the tenancy, the deposit reverts to the landlord in\n\nconsideration of the costs and burden of maintaining the escrow\n\naccount, and the interest of the tenant in that deposit terminates\n\nat that time.\n\nC. Upon cessation of a landlord's interest in the dwelling unit\n\nincluding, but not limited to, termination of interest by sale,\n\nassignment, death, bankruptcy, appointment of receiver or otherwise,\n\nthe person in possession of the tenants' damage or security deposits\n\nat his option or pursuant to court order shall, within a reasonable\n\ntime:\n\n1. Transfer said deposits to the landlord's successor in\n\ninterest and notify the tenants in writing of such transfer and of\n\nthe transferee's name and address; or\n\n2. Return the deposits to the tenants.\n\nD. Upon receipt of the transferred deposits under paragraph 1\n\nof subsection C of this section, the transferee, in relation to such\n\ndeposits, shall have all the rights and obligations of a landlord\n\nholding such deposits under this act.\n\nE. If a landlord or manager fails to comply with this section\n\nor fails to return any prepaid rent required to be paid to a tenant\n\nunder this act, the tenant may recover the damage and security\n\ndeposit and prepaid rent, if any.\n\nF. Except as otherwise provided by the rental agreement, a\n\ntenant shall not apply or deduct any portion of the security deposit\n\nfrom the last month's rent or use or apply such tenant's security\n\ndeposit at any time in lieu of payment of rent.\n\nG. This section does not preclude the landlord or tenant from\n\nrecovering other damages to which he may be entitled under this act.","path":["OK Code","Title 41"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os41.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"2706a02ba882b576553d5e84adcad45d25a39f84e7942dc44be0b227f6d1ab10","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-41-41-114","next":"us-ok/okla.-stat.-tit.-41-41-116"},"notice":"GroundRules: Original legal text. Not legal advice."}