(765 ILCS 715/1) (from Ch. 80, par. 121)
Sec. 1.
A lessor of residential real property, containing 25 or more
units in either a single building or a complex of buildings located on
contiguous parcels of real property, who receives a security deposit from a
lessee to secure the payment of rent or compensation for damage to property
shall pay interest to the lessee computed from the date of the
deposit at a rate equal to the interest paid by the largest commercial bank,
as measured by total assets, having its main banking premises in this State
on minimum deposit passbook savings accounts as of December 31 of the calendar
year immediately preceding the inception of the rental agreement on any deposit held by the lessor
for more than 6 months.
(Source: P.A. 87-386; 88-449.)
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