Maryland Security Deposit Trust Accounts

[Chin P.]

Question for those landlords operating in Maryland. I understand that the Maryland Security Deposit Law requires landlords who collect security deposits to deposit the funds collected, within 30 days of receipt, into an interest-bearing escrow account that is used exclusively for security deposits. Which companies do you use to hold your security deposits? Also, I understand that you're required to pay 3% interest on the security deposit. I assume you're making this up out of your own pocket because no bank account I could put a security deposit in pays 3% now a days, right?