Oklahoma Security Deposit Law

Maximum deposit

Oklahoma sets no limit on the amount of a security deposit, but the landlord must hold it in an escrow account at a federally insured institution in Oklahoma (41 O.S. § 115(A)). (41 O.S. § 115 (no amount limit; escrow requirement in (A)))

Return deadline

Landlords must return the deposit balance, with an itemized statement of deductions, within 45 days after the tenancy ends, the tenant gives up possession and the tenant makes a written demand (41 O.S. § 115(B)). (41 O.S. § 115(B))

Itemized statement of deductions

Deductions for rent and damages must be itemized in a written statement delivered in person or by return-receipt mail (41 O.S. § 115(B)). (41 O.S. § 115(B))

Interest on the deposit

Oklahoma landlords do not owe interest on deposits, since the statute requires the balance to be returned 'without interest', but deposits must be kept in an in-state escrow account (41 O.S. § 115(A)-(B)). (41 O.S. § 115(A)-(B))

The balance is returned 'without interest'; the deposit must still be held in an Oklahoma escrow account at a federally insured institution.

Penalty for wrongful withholding

If the landlord does not comply with the deposit rules, the tenant may recover the deposit and any prepaid rent, and misappropriating escrowed deposits is punishable by up to six months in jail and a fine of up to twice the amount taken (41 O.S. § 115(A), (E)). (41 O.S. § 115(A), (E), (G))

Where the deposit is held

Oklahoma landlords must keep every damage or security deposit in an escrow account for the tenant at a federally insured financial institution located in Oklahoma (41 O.S. § 115(A)). (41 O.S. § 115)

Misappropriating money from the escrow account is a crime punishable by up to six months in county jail and a fine of up to twice the amount taken; a deposit the tenant never demands within six months after the tenancy ends reverts to the landlord.

Receipt or written notice of the deposit

Oklahoma's deposit statute does not require a receipt or a notice telling the tenant where the escrow account is held (41 O.S. § 115). (41 O.S. § 115)

Move-in condition checklist

Oklahoma law does not require a move-in inspection or condition checklist before a landlord can make damage deductions (41 O.S. § 115). (41 O.S. § 115)

Pet deposits

Oklahoma has no pet-deposit statute; its assistance-animal law lets landlords ask for disability documentation but says nothing about deposits or fees for those animals (41 O.S. §§ 113.1, 113.2, 115). (41 O.S. §§ 113.1, 113.2, 41 O.S. § 115)

Nonrefundable fees

Oklahoma statutes neither ban nor regulate nonrefundable fees or deposits in residential leases (41 O.S. § 115). (41 O.S. § 115)

Small-landlord exemptions

No landlord in Oklahoma is exempt from the escrow and return rules because of its size; the Act excludes only arrangements such as transient lodging, institutional stays and condo-owner occupancy (41 O.S. § 104). (41 O.S. § 104)

Deposit alternatives and installments

Oklahoma law does not address surety bonds, deposit insurance or installment payment of deposits (41 O.S. § 115). (41 O.S. § 115)