(a) The interest of an assignee or pledgee in rate stabilization property and in the revenues and collections arising from that property is not subject to setoff, counterclaim, surcharge, or defense by the electric company or any other person or in connection with the bankruptcy of the electric company or any other entity. (b) A qualified rate […]
(a) (1) The electric bill of an electric company that has obtained a qualified rate order and issued rate stabilization bonds must: (i) explicitly reflect that a portion of the charges on the bill represents qualified rate stabilization charges approved in a qualified rate order issued to the electric company; and (ii) if the rate stabilization property has been […]
(a) (1) Rate stabilization property does not constitute an account or general intangible under § 9-102 of the Commercial Law Article. (2) The creation, granting, perfection, and enforcement of liens and security interests in rate stabilization property, including all proceeds of that property, are governed by this section and not by the Maryland Uniform Commercial Code. (b) (1) A valid […]
(a) This section applies to a person that is a successor to an electric company, whether through: (1) a reorganization, bankruptcy, or other insolvency proceeding; (2) a merger or acquisition, sale, or other business combination; or (3) a transfer by operation of law. (b) A successor to an electric company shall perform and satisfy all obligations of, and have the […]
An assignee or financing party may not be considered to be a public service company or an electricity supplier solely by virtue of the transactions described in this part.
