Rules & Regulations of the State of Tennessee
Title 1220 - Tennessee Public Utility Commission
Subtitle 1220-04 - Division of Public Utilities
Chapter 1220-04-05 - Regulations for Gas Companies
Section 1220-04-05-.14 - CUSTOMER DEPOSITS
Universal Citation: TN Comp Rules and Regs 1220-04-05-.14
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) A
deposit shall be at the option of the company not 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 will 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 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.
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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