Delaware Deposit bank holding / separate account

Deposit bank holding / separate account in Delaware

Each deposit must be placed in an escrow account at a federally insured bank with an office in Delaware. The account must be labeled as a security deposits account and not used for business, and the landlord must tell the tenant where it is. Code text: "Each security deposit shall be placed by the landlord in an escrow bank account in a federally-insured banking institution with an office that accepts deposits within the State."

Verified Source: 25 Del. C. § 5514(b) · last checked 2026-10-16