Delaware General Assembly

Signed 6/27/13

The General Assembly has ended, the current status is the final status.

4/25/13

Keeley

Sen. Bushweller

Reps. Baumbach, Bennett, Bolden, Ramone, Spiegelman, B. Short, D.E. Williams
Sen. Henry

AN ACT TO AMEND TITLE 25 OF THE DELAWARE CODE RELATING TO SURETY BONDS FOR RENTAL PROPERTY.

This bill amends the landlord/tenant code to permit the use of a surety bond in place of a security deposit. Instead of paying a refundable security deposit, a tenant may, if the landlord permits, purchase a nonrefundable “surety bond” for a percentage of the security deposit amount. The issuer of the surety bond would then be liable to the landlord in the event the tenant does not pay for any damages sustained by the landlord due to non-payment of rent, breach of lease, or damage to the rental property.

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