N.Y. Comp. Codes R. & Regs. tit. 16 § 90.6
Current through Register Vol. 46, No. 22, May 29, 2024
(a) Each electric corporation and gas and electric corporation holding consumer deposits shall render to each depositor, when and as his deposit is refunded, a statement showing the amount of the deposit, together with the amount of unpaid interest accrued thereon to the date of refund and the period covered thereby; and the amount of deposit and interest refunded. Any refund may be credited to the customer's account only to the extent of the current charges and the charges for the next succeeding month, and any balance or, at the election of such corporation, the full refund, shall be made to the depositor. Each depositor, upon becoming entitled thereto by reason of nondelinquency for one year, upon ceasing to be a subscriber or as provided by subdivision (b) of this section, may withdraw his deposit and all interest thereon which has not been refunded or credited against bills for service, upon surrendering his deposit certificate (or submitting satisfactory proof of ownership of the deposit or of the right to receive the same) and the payment of all bills for which such deposit is security. The "prudent" period of deposit retention, referred to in Public Service Law, section 117, may not exceed two years of nondelinquency in payment of bills rendered.(b) Each electric corporation and gas and electric corporation shall, before April 1, 1976, review the accounts of all existing residential customers who have made deposits. Thereafter, each corporation shall review, on not less than an annual basis, the accounts of all existing residential customers who have made deposits. If a residential customer is not a bad credit risk, as defined in paragraph (b)(1) of section 90.5 of this Part, the utility shall promptly refund to such customer the amount of the deposit and the interest thereon.N.Y. Comp. Codes R. & Regs. Tit. 16 § 90.6