N.M. Admin. Code § 17.5.410.19

Current through Register Vol. 35, No. 23, December 10, 2024

Section 17.5.410.19 - REFUND OF DEPOSITS, TERMINATION OF GUARANTEES

A. Any residential customer who has not been chronically delinquent for the twelve-month period from the date of deposit or guarantee shall promptly receive a credit or refund in the amount of the deposit together with accrued interest due or shall be permitted to terminate any guarantee. If the amount of the deposit exceeds the amount of the current bill, the residential customer may request a refund in the amount of the excess if such excess exceeds twenty five dollars ($25). If the residential customer fails to qualify for a refund of the deposit on the first anniversary date of the deposit, that account shall be reviewed at least annually, and the amount of the deposit shall be credited if the residential customer has not been chronically delinquent during the preceding twelve (12) months. A residential customer may request a refund at any time after twelve (12) months payment history, which refund shall promptly be paid if the residential customer has not been chronically delinquent during the prior twelve-month (12) period, or a utility may pay such refund in the absence of a request within a reasonable period of time.

B. Unclaimed deposits shall be handled as provided by law.

17.5.410.19 NMAC - Rp, 17.5.410.19 NMAC, 7-1-11