Tenant noticeWithin 30 days of lease start
The landlord or agent must identify the bank/institution or insurance company providing the bond.
Out-of-state trust accounts
The statute permits a deposit to be held in a trust account outside North Carolina only when the landlord provides an adequate bond in the amount of the deposits.
Records worth keeping
- The deposit receipt.
- The written notice naming the bank or bonding company.
- Lease and renewal documents.
- Any transfer notice if ownership changes.
Use the actual tenancy timeline. North Carolina’s accounting statute ties the deadline to termination of the tenancy and delivery of possession. If those dates differ, identify both before calculating a deadline.
Official sources
North Carolina General AssemblyN.C.G.S. § 42-50 — Deposits from the tenant ↗
Primary statute for trust-account/bond handling and the landlord’s 30-day notice of where the deposit is held or bonded.
North Carolina General AssemblyChapter 42, Article 6 — Tenant Security Deposit Act ↗Official consolidated text of North Carolina’s Tenant Security Deposit Act.