What does N.J.S.A. 46:8-21.2 - Annual interest required at rate set by NJ Commissioner of Banking mean for New Jersey tenants?
This section governs interest on deposits and should be cited when disputing wrongful withholding under New Jersey law.
N.J.S.A. 46:8-21.2 - Annual interest required at rate set by NJ Commissioner of Banking: New Jersey statute explainer
Plain-English explanation of interest on deposits with actionable next steps.
Deadline context
30 days
Penalty context
2x damages
How to use this statute in your case
- Capture all dates and documents tied to this statutory requirement.
- Use the statute language verbatim in your written demand.
- Escalate with organized evidence if the landlord does not cure.
Frequently asked questions
Quick answers to the questions renters usually have before citing this statute in a demand letter or court filing.
How long does a New Jersey landlord have to return the deposit?
30 days after termination of tenancy or delivery of premises, whichever is later (30 days).
What penalties can apply if my landlord violates N.J.S.A. 46:8-21.2 - Annual interest required at rate set by NJ Commissioner of Banking?
Double amount wrongfully withheld + court costs.
Next steps
Turn this citation into an actionable demand and timeline.