California Health and Safety Code

§ 34080

HSC § 34080 Effective Mar 13, 1990Div. 24 · Part 1.6 · Ch. 2

Statute text

The parties to a deposit guarantee or grant contract shall be the local agency or organization, the tenant, and the rental property owner. The terms of the contract shall include all of the following:

(a)The owner of the rental property shall agree to allow the security deposit to be paid over a specified number of months as an addition to the regular rental payment, rather than as a lump-sum payment.

(b)Upon execution of the agreement, the local agency or organization shall encumber or reserve in a special fund as a guarantee of the contract, an amount equal to no less than 80 percent of the outstanding balance of the security deposit owed by the tenant to the landlord.

…

Legislative history

Amended by Stats. 1990, Ch. 19, Sec. 22. Effective March 13, 1990.