According to GOBL 7-103 a bank is required to maintain an account for a landlord and pay interest on the money if the building has more than 6 units that are rented. Does this mean that the interest earned is required to go to the tenant or the landlord? If it has to be paid to the tenant, how would we know that the landlord is paying the interest to the tenant? Are there any other requirements that I should know about these types of accounts? Thank you.

In case anyone else is looking for an answer on this question, I just found this website that puts into English what the NY law states: http://landlords.about.com/od/LegalIssues/a/New-York-Security-Deposit-Law.htm