Rules & Regulations of the State of Tennessee
Title 1220 - Tennessee Public Utility Commission
Subtitle 1220-04 - Division of Public Utilities
Chapter 1220-04-04 - Regulations for Electric Companies
Section 1220-04-04-.15 - CUSTOMER DEPOSITS
Universal Citation: TN Comp Rules and Regs 1220-04-04-.15
Current through September 24, 2024
(1) Each utility may require from any customer or prospective customer a deposit intended to guarantee payment of bills for service.
(a)
Such deposit shall not be more in amount than the maximum estimated charge for
service for two (2) consecutive billing periods or ninety (90) days, whichever
is less, or as may reasonably be required by the utility in cases involving
service for short periods or special occasions.
(b) Any interest rates on deposits shall be
approved by the Authority.
(c) Each
utility shall keep records to show:
1. the
name and address of each depositor;
2. the amount and date of the
deposit;
3. each transaction
concerning the deposit.
(d) Each utility shall issue a receipt of
deposit to each customer from whom a deposit is received, and shall provide
means whereby a depositor may establish his/her claim if his/her receipt is
lost.
(e) The utility may retain
the deposit as long as it feels it is necessary to insure payment of bills for
service.
(f) A record of each
unclaimed deposit must be maintained for at least three (3) years, during which
time the utility shall make a reasonable effort to return the
deposit.
(g) Unclaimed deposits,
together with accrued interest, shall be credited to an appropriate account and
treated in accordance with Tenn. Code Ann. Title 66, Chapter 29.
Authority: T.C.A. § 65-2-102.
Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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