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CT SB00945
Bill
Status
2/21/2013
Primary Sponsor
Energy and Technology Committee
Click for details
AI Summary
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Municipal utilities furnishing electric, gas, or water service must develop a security deposit plan for commercial and industrial customers by January 1, 2014
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Utilities must accept irrevocable letters of credit as an alternative to cash security deposits when new commercial and industrial customers open accounts
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Utilities must accept irrevocable letters of credit in exchange for refunding existing cash security deposits if the customer has made nondelinquent payments for the previous seven years
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Utilities with existing security deposit plans are exempt from these requirements if their current plan terms are already more favorable to customers than the requirements in this act
Legislative Description
An Act Concerning The Payment Of Security Deposits To Municipal Utilities Furnishing Electric, Gas Or Water Service.
Last Action
Senate Recommitted to Energy and Technology
6/4/2013