New York Codes, Rules and Regulations
Title 16 - DEPARTMENT OF PUBLIC SERVICE
Chapter V - WATERWORKS CORPORATIONS
Subchapter A - SERVICE
Part 510 - Consumer Deposits-waterworks Corporations
Section 510.6 - Certificate of deposit

Universal Citation: 16 NY Comp Codes Rules and Regs ยง 510.6
Current through Register Vol. 46, No. 12, March 20, 2024

Each and every waterworks corporation holding consumer deposits shall issue to every consumer from whom a deposit may be exacted a certificate of deposit for which shall be used a good quality of paper and on which certificate there shall be printed, in addition to the receipt for the moneys deposited, the substance of the following:

THIS RECEIPT IS NOT NEGOTIABLE OR TRANSFERABLE

Interest will be allowed on this deposit so long as it shall remain with the corporation. When this deposit has been held for one year, interest thereon will be paid in cash or credited on a bill for service rendered the depositor thereafter, but not later than the first bill rendered, after the next succeeding first day of October and at the expiration of each succeeding one-year period.

Preserve this receipt to be surrendered when deposit is returned.

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