§ 40-8.5-103. Definitions

As used in this article 8.5, unless the context otherwise requires:

1. “Commission” means the legislative commission on low-income energy and water assistance established in section 40-8.5-103.5.
2. “Deposit” means moneys deposited by a subscriber with a utility to secure payment for services or any other amount which is paid in advance for electric or gas utility services to be furnished.
3. “Electric utility” means every electrical corporation operating for the purpose of supplying electricity to the public for domestic, mechanical, or public uses and includes every public utility supplying electricity; except that this definition includes only those cooperative electric associations which notify the commission that they elect to come under this article.
4. “Gas utility” means every gas corporation operating for the purpose of supplying gas to the public for domestic, mechanical, or public uses and includes every public utility supplying gas.

   (4.5) “Organization” has the meaning set forth in section 40-8.7-103 (4).

5. 1. “Unclaimed moneys” means:
      1. Deposits, including any interest thereon, less any lawful deductions or amounts owed to a utility, that the utility has been directed to return to the subscriber by an administrative or judicial order or that is due the subscriber through the utility’s security or construction deposit policy and that remains unclaimed by the subscriber for more than two years;
      2. Moneys which shall be deemed unclaimed and presumed abandoned when left with the utility for more than two years after termination of the services for which the deposit or advance was made or for more than two years after the deposit becomes payable and the utility has made reasonable efforts to locate the owner of the unclaimed moneys or distribution is attempted pursuant to a final order of an administrative agency or judicial body having jurisdiction to establish the terms and conditions of such deposit or advance.
   2. This term shall not include credits to existing subscribers through cost-adjustment mechanisms, and this term shall not include unclaimed patronage capital held by cooperative electric associations.

Source: L. 90: Entire article added, p. 1758, § 1, effective May 31. L. 2021: IP and (1) amended and (4.5) added, (HB 21-1105), ch. 488, p. 3496, § 4, effective September 7.