New Paltz Town, N.Y., Code of Ordinances ch. 94 (eCode360 ed. 2026) § 94-3
Notification to tenant
Operative Text
Whenever a tenant shall provide to the landlord a security deposit, the landlord shall provide to the tenant a written receipt for the security deposit and shall further inform the tenant, in writing, of the location where the deposit is held; if the deposit is being held in a banking organization, the name and address of the banking organization in which the security deposit is being held; and a statement as to whether or not the deposit is being held in an interest-bearing account.
Under New Paltz Town Code § 94-3, when a tenant pays a security deposit, the landlord is required to give the tenant a written receipt for that payment. The landlord must also disclose in writing where the deposit is being held, including the name and address of any bank involved, and must state whether the account earns interest. This rule establishes a clear paper trail connecting the tenant to their deposited funds.
Plain English — not legal advice.
Operators subject to New Paltz Town Code § 94-3 generally document every security deposit transaction with a written receipt delivered to the tenant at or near the time of collection. Compliant operators also prepare a written disclosure identifying the holding location — including the full name and address of any banking organization — and explicitly state whether the account is interest-bearing. Maintaining copies of these receipts and disclosures in tenant files supports a clear record of compliance.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
New Paltz Town Code § 94-3 gives tenants the right to receive a written receipt whenever they pay a security deposit, along with written details about where that money is held and whether it earns interest. If a landlord fails to provide these disclosures, tenants may have grounds to raise that omission in a dispute over the deposit's return or handling. Tenant-rights organizations in New York State can help residents understand what remedies may be available when these notification requirements are not met.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated November 9, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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