11.
Loss of claim by surety.
If a surety fails to comply with the requirements of this section, the surety forfeits the right to make any claim against the tenant under the surety bond.
[PL 2007, c. 370, §2 (NEW).]
12.
Transfer of premises.
If a landlord's interest in the rented premises is sold or transferred, the new landlord shall accept the tenant's surety bond and may not require an additional security deposit or surety bond from the tenant during the rental term that the premises is sold or transferred. At any renewal of the rental agreement, the new landlord may not require a surety bond or a security deposit from the tenant that, in addition to any existing surety bond or security deposit, is in an aggregate amount in excess of 2 months' rent for the tenant’s dwelling unit. If the aggregate amount described above is in excess of 2 months' rent, the tenant may bring an action for wrongful assessment of surety bond under subsection 3.
[PL 2007, c. 370, §2 (NEW).]
13.
Licensed surety.
A surety bond issued under this section may only be issued by an admitted carrier licensed by the Department of Professional and Financial Regulation, Bureau of Insurance.
[PL 2007, c. 370, §2 (NEW).]
SECTION HISTORY
PL 2007, c. 370, §2 (NEW).