# 14 M.R.S. § 6038: 14 §6038. Treatment of security deposit

> Maine · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6038

## Section

- **Citation:** 14 M.R.S. § 6038
- **Heading:** 14 §6038. Treatment of security deposit
- **Jurisdiction:** Maine
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** ME Code / Title 14 / Part 7 / Chapter 710-A / Section 6038

## Text

1. Requirements. During the term of a tenancy, a security deposit given to a landlord as part of a residential rental agreement may not be treated as an asset to be commingled with the assets of the landlord or any other entity or person. All security deposits received after October 1, 1979 must be held in an account of a bank or other financial institution under terms that place the security deposit beyond the claim of creditors of the landlord or any other entity or person, including a foreclosing mortgagee or trustee in bankruptcy, and that provide for transfer of the security deposit to a subsequent owner of the dwelling unit or to the tenant in accordance with section 6035 . Upon the transfer of the dwelling unit, the new owner shall assume all responsibility for maintaining and returning to tenants all security deposits accounted for and transferred pursuant to section 6035 . Upon request by a tenant, a landlord shall disclose the name of the institution and the account number where the security deposit is being held. A landlord may use a single escrow account to hold security deposits from all of the tenants. A landlord may use a single escrow account to hold security deposits from tenants residing in separate buildings if the buildings are owned by different entities as long as the different entities are substantially controlled or owned by a single landlord. [PL 2009, c. 566, §24 (NEW).]

2. Remedies. Upon a finding by a court that a violation of this section has occurred, the tenant is entitled to recover from the landlord actual damages, $500 or the equivalent of one month's rent, whichever is greatest, together with the aggregate amount of costs and expenses reasonably incurred in connection with the action. The court may also award to the tenant reasonable attorney's fees. [PL 2009, c. 566, §24 (NEW).]

3. Application. The provisions of subsection 2 apply to all security deposits collected by a landlord after June 1, 2010. As of October 1, 2010, the provisions of subsection 2 apply to all security deposits held by or on behalf of a landlord. [PL 2009, c. 566, §24 (NEW).]

## Nearby sections

- [14 M.R.S. § 6031 14 §6031. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6031.md)
- [14 M.R.S. § 6032 14 §6032. Maximum security deposit](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6032.md)
- [14 M.R.S. § 6033 14 §6033. Return of the security deposit](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6033.md)
- [14 M.R.S. § 6034 14 §6034. Wrongful retention; damages](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6034.md)
- [14 M.R.S. § 6035 14 §6035. Transfer of security deposit](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6035.md)
- [14 M.R.S. § 6036 14 §6036. Waiver of provisions](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6036.md)
- [14 M.R.S. § 6037 14 §6037. Exemptions](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6037.md)
- [14 M.R.S. § 6038 14 §6038. Treatment of security deposit](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6038.md)
- [14 M.R.S. § 6039 14 §6039. Surety bonds](https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6039.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ME_T14_P7_C710-A_S6038. Check the current official text before relying on it. Not legal advice.