(1) Funds in excess of one hundred dollars that are paid to an adult family home as a security deposit or as prepayment for charges beyond the first month's residency must be deposited by the adult family home in an interest bearing account that is separate from any of the home's operating accounts and that credits all interest earned on the resident's funds to that account.

(2) The adult family home must:

(a) Provide a record of the account when requested by the resident, the resident's representative, or the department;

(b) Ensure the resident's funds are not mixed with the home's funds or with the funds of any person other than another resident. If an account pools resident funds, there must be a separate accounting for each resident's share;

(c) Ensure that the account(s) are held, and remain until a resident refund occurs, in a financial institution as defined in RCW 30A.22.040; and

(d) Notify the resident in writing of the name, address, and location of the depository.