(ii) A surety shall refund to a tenant any premium or other charge paid by the tenant in connection with a surety bond if, after the tenant purchases a surety bond, the landlord refuses to accept the surety bond or the tenant does not enter into a lease with the landlord.
(3) (i) The amount of a surety bond purchased instead of a security deposit may not exceed two months’ rent per dwelling unit.
(ii) If a tenant purchases a surety bond and provides a security deposit in accordance with this section, the aggregate amount of both the surety bond and security deposit may not exceed two months’ rent per dwelling unit.
(iii) 1. If a landlord consents to a surety bond but requires the surety bond to be in an amount in excess of two months’ rent, the tenant may recover up to three times the extra amount charged for the surety bond, plus reasonable attorney’s fees.
2. If a landlord consents to both a surety bond and a security deposit but requires the surety bond and the security deposit to be in an aggregate amount in excess of two months’ rent, the tenant may recover up to three times the extra amount charged for the surety bond, plus reasonable attorney’s fees.
(4) Before a tenant purchases a surety bond instead of paying all or part of a security deposit, a surety shall disclose in writing to the tenant that:
(i) Payment for a surety bond is nonrefundable;
(ii) The surety bond is not insurance for the tenant;
(iii) The surety bond is being purchased to protect the landlord against loss due to nonpayment of rent, breach of lease, or damages caused by the tenant;
(iv) The tenant may be required to reimburse the surety for amounts the surety paid to the landlord;
(v) Even after a tenant purchases a surety bond, the tenant is responsible for payment of: