383.580 Security deposits.
(1) All landlords of residential property requiring security deposits prior to occupancy
shall be required to deposit all tenants' security deposits in an account used only for
that purpose, in any bank or other lending institution subject to regulation by the
Commonwealth of Kentucky or any agency of the United States government.
Prospective tenants shall be informed of the location of the separate account and the
account number.
(2) Prior to tendering any consideration deemed to be a security deposit, the prospective
tenant shall be presented with a comprehensive listing of any then-existing damage
to the unit which would be the basis for a charge against the security deposit and the
estimated dollar cost of repairing such damage. The tenant shall have the right to
inspect the premises to ascertain the accuracy of such listing prior to taking
occupancy. The landlord and the tenant shall sign the listing, which signatures shall
be conclusive evidence of the accuracy of such listing, but shall not be construed to
be conclusive to latent defects. If the tenant shall refuse to sign such listing, he shall
state specifically in writing the items on the list to which he dissents, and shall sign
such statement of dissent.
(3) At the termination of occupancy, the landlord shall inspect the premises and
compile a comprehensive listing of any damage to the unit which is the basis for
any charge against the security deposit and the estimated dollar cost of repairing
such damage. The tenant shall then have the right to inspect the premises to
ascertain the accuracy of such listing. The landlord and the tenant shall sign the
listing, which signatures shall be conclusive evidence of the accuracy of such
listing. If the tenant shall refuse to sign such