CPA · Mobile Home Sites Tenancies Act
Part 4 — Security Deposits
49 Trust account
money received by the landlord into an interest-bearing trust
account at a bank, treasury branch, credit union or trust corporation
in Alberta within 2 banking days after receiving the deposit.
(2) The landlord is the trustee of a security deposit consisting of
money on behalf of the tenant who paid it or, if the tenant has
assigned the tenancy agreement in accordance with the tenancy
agreement and this Act, the assignee.
(3) The landlord shall deposit only money that is a security deposit
in the trust account.
(4) The landlord shall not invest the money in the trust account
except in the prescribed investments.
(5) The security deposit consisting of money and the trust account
are subject to this Act and the regulations and to the provisions of
the tenancy agreement respecting security deposits that are not in
conflict with this Act or the regulations.
1992 c22 s33