State Codes and Statutes
Statutes > North-carolina > Chapter_42A > GS_42A-18§42A‑18. Applicability of the Residential Tenant Security Deposit Act.
(a) Except as mayotherwise be provided in this Chapter, all funds collected from a tenant andnot identified in the vacation rental agreement as occupancy or sales taxes,fees, or rent payments shall be considered a tenant security deposit and shallbe subject to the provisions of the Residential Tenant Security Deposit Act, ascodified in Article 6 of Chapter 42 of the General Statutes. Funds collected asa tenant security deposit in connection with a vacation rental shall bedeposited into a trust account as required by G.S. 42‑50. The landlord orreal estate broker shall not have the option of obtaining a bond in lieu ofmaintaining security deposit funds in a trust account. In addition to thepermitted uses of tenant security deposit monies as provided in G.S. 42‑51,a landlord or real estate broker may, after the termination of a tenancy underthis Chapter, deduct from any tenant security deposit the amount of any longdistance or per call telephone charges and cable television charges that arethe obligation of the tenant under the vacation rental agreement and are leftunpaid by the tenant at the conclusion of the tenancy. The landlord or realestate broker shall apply, account for, or refund tenant security depositmonies as provided in G.S. 42‑51 within 45 days following the conclusionof the tenancy.
(b) A vacation rentalagreement shall not contain language compelling or permitting the automaticforfeiture of all or part of a tenant security deposit in case of breach ofcontract by the tenant, and no such forfeiture shall be allowed. The vacationrental agreement shall provide that a tenant security deposit may be applied toactual damages caused by the tenant as permitted under Article 6 of Chapter 42of the General Statutes. (1999‑420, s. 1.)
