 Deposit stays in state (by jbisson [TX]) Jul 28, 2009 6:38 AM
 Deposit stays in state (by MrRational [MD]) Jul 28, 2009 6:45 AM
Deposit stays in state (by Theresa [TX]) Jul 28, 2009 9:56 AM
Deposit stays in state (by jbisson [TX]) Jul 28, 2009 1:06 PM
Deposit stays in state (by jbisson [TX]) Posted on: Jul 28, 2009 6:38 AM
Message:
State Specific Question About: OKLAHOMA (OK)
I live in Texas,I have Rental property in Oklahoma .
The law states I have to Keep the deposit in A bank in the state of oklahoma. I bank with Bank of America ,which has banks in both states .Should I deposit it in (oklahoma) at BAC. This all sounds rediculous to me .But I dont want to take any chances.With my luck Ill go to Landord prison . --71.97.xxx.xxx |
Deposit stays in state (by MrRational [MD]) Posted on: Jul 28, 2009 6:45 AM
Message:
First... verify if your portfolio is large enough to qualify for the strict SD issues. (Most only make karge holders do it)
If your portfolio is big enough... congrats! Now start following all the rules needed.
The SD rules were established to protect consumers from unscrupulous LL's (as most of the laws were). These operators would sent that SD 5 states away and try to make a tenant fight across 5 states to get it back. In state = the attorney general has more and direct choices to fight in their benefit. --69.251.xx.xxx |
Deposit stays in state (by Theresa [TX]) Posted on: Jul 28, 2009 9:56 AM
Message:
Can't you deposit in BA in TX and transfer it to BA in OK? Keeping proper paper trail of course. --64.148.xxx.xxx |
Deposit stays in state (by jbisson [TX]) Posted on: Jul 28, 2009 1:06 PM
Message:
Yes, I found out I can open an account in okla through BA. and transfer between the two. Thank you. --71.97.xxx.xxx |
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