Rules & Regulations of the State of Tennessee
Title 1220 - Tennessee Public Utility Commission
Subtitle 1220-04 - Division of Public Utilities
Chapter 1220-04-13 - Wastewater Regulations
Section 1220-04-13-.08 - STANDARD FORMS FOR FILING FINANCIAL SECURITY
Universal Citation: TN Comp Rules and Regs 1220-04-13-.08
Current through September 24, 2024
(1) Corporate surety bonds or letters of credit filed to comply with TPUC Rule 1220-04-13-.07 shall include the following terms:
(a) The
name and identification number assigned to the utility by TPUC;
(b) The name and contact information for the
providers of the corporate surety bond or letter of credit;
(c) A statement identifying the TPUC as the
beneficiary;
(d) A statement of the
amount of the surety bond or letter of credit;
(e) A statement indicating that the financial
security is required by Tenn. Code Ann. §
65-4-201
and TPUC Rule
1220-04-13-.07;
(f) A statement indicating that after action
under TPUC
1220-04-13-.09
the Commission may assess a sum sufficient of this bond, up to its maximum
sum;
(g) A statement that the
provider of the corporate surety bond or letter of credit will promptly pay the
Tennessee Public Utility Commission via wire transfer upon notice that the TPUC
has taken action pursuant to TPUC Rule
1220-04-13-.09;
and
(h) A statement that the
provider of the corporate surety bond or letter of credit shall provide the
TPUC at least a ninety (90) day notice in the event of a non-renewal or
termination of the corporate surety bond or letter of
credit.
(2) The Commission may require additional terms in a letter of credit to ensure access to funds in the event of action per TPUC Rule 1220-04-13-.09.
(3) Providers of the corporate surety bond or letter of credit shall be authorized to do business in the state of Tennessee.
Authority: T.C.A. §§ 65-2-102, 65-2-106, and 65-4-104, 65-4-114, and 65-4-203.
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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