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Public Utilities | |
Duties of Public Utilities | |
Section 26 | Retention of unclaimed capital credits by electric and telephone cooperatives -- Use of retained money -- Reporting requirements. |
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54-3-26. Retention of unclaimed capital credits by electric and telephone
cooperatives -- Use of retained money -- Reporting requirements. Each electric and telephone cooperative shall: (1) retain capital credits given to customers of electric and telephone cooperatives in this state that remain unclaimed for a period of three years after the end the year in which the credit is given; (2) use the money retained solely to: (a) assist low-income persons to pay their utility bills; and (b) provide scholarships to local graduating high school seniors; (3) establish guidelines based on factors such as income or special needs to determine persons who qualify; and (4) submit copies annually to the Public Service Commission of: (a) the cooperative's guidelines; and (b) amounts and disposition of retained capital credits by individual recipients.
Enacted by Chapter 198, 1995 General Session |
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