C.M.R. 65, 407, ch. 870
Current through 2024-25, June 19, 2024
SUMMARY: This rule establishes the maximum interest rate that public utilities may charge customers on balances that remain unpaid for no less than twenty-five days from the postmark date of the customer's bill. This rule describes under what circumstances such late payment charges may be imposed. The rule also provides for a just and reasonable interest rate for customer deposits, and establishes the maximum fee that may be charged for checks returned for nonpayment. This rule does not affect any other arrangements that utilities may have with their customers that are subject to other laws, such as the Maine Consumer Credit Code.
C.M.R. 65, 407, ch. 870
May 1, 1985 - as Ch. 87, filing 85-117
AMENDED:
June 24, 1986 - filing 86-227
August 2, 1989 - as Ch. 870, filing 89-304
AMENDED:
This rule was approved as to form and legality by the Attorney General on October 23, 1995. It was filed with the Secretary of State on October 23, 1995 (filing 95-408), and became effective on October 28, 1995.
EFFECTIVE DATE (ELECTRONIC CONVERSION):
May 4, 1996
NON-SUBSTANTIVE CHANGES:
March 26, 1999 - converted to MS Word
December 18, 2006 - restored language in Section 2(A)
AMENDED:
This rule was approved as to form and legality by the Attorney General on October 30, 2009. It was filed with the Secretary of State on November 2, 2009 (filing 2009-578) and became effective on November 7, 2009.
AMENDED:
This rule was approved as to form and legality by the Attorney General on May 30, 2014. It was filed with the Secretary of State on June 2, 2014 (filing 2014-114) and became effective on June 7, 2014.
AMENDED:
This rule was approved as to form and legality by the Attorney General on May 16, 2022. It was filed with the Secretary of State on May 23, 2022 (filing 2022-095) and became effective on 5/28/2022( filing 2022- 096
STATUTORY AUTHORITY: 35-A M.R.S.A. §§101 , 104 , 111 , 301 , 304 , and 705(3) .