North Dakota
For North Dakota, interest required is Yes; rate or how it's set is a federally insured interest-bearing savings or checking account for the benefit of the tenant; condition that triggers the duty is Not owed where the period of occupancy was less than nine months; citation is N.D. Cent. Code § 47-16-07.1(1), (3), recorded from its source on 2026-09-02.
- Jurisdiction
- North Dakota our reading
- Interest required
- Yes our reading
- Rate or how it's set
- a federally insured interest-bearing savings or checking account for the benefit of the tenant verified
- Condition that triggers the duty
- Not owed where the period of occupancy was less than nine months our reading
- Citation
- N.D. Cent. Code § 47-16-07.1(1), (3) our reading
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
What the source says
The lessor of real property or a dwelling who requires money as a security deposit, however denominated, shall deposit the money in a federally insured interest-bearing savings or checking account for the benefit of the tenant. The security deposit and any interest accruing on the deposit must be paid to the lessee upon termination of a lease, subject to the conditions of subsection 2.
— ndlegis.gov, retrieved 2026-09-02
Where each value comes from
The value above is stated away from the sentence quoted with the answer, so the passage that states it is shown here too.
Condition that triggers the duty
A lessor is not required to pay interest on security deposits if the period of occupancy was less than nine months in duration.
— all from ndlegis.gov, retrieved 2026-09-02
Source
- ndlegis.govhttps://www.ndlegis.gov/cencode/t47c16.pdf