S.C. Code Regs. § 103-433

Current through Register Vol. 48, No. 34, August 23, 2024

Section 103-433 - Interest on Deposits

A. Simple interest on deposits at the rate of the current effective interest rate per annum prescribed by Order of the South Carolina Public Service Commission shall be paid by the gas utility to each customer required to make such deposit for the time it is held by the gas utility, provided that no interest need to be paid unless the deposit is held longer than six months.

B. The interest shall be accrued annually and payment of such interest shall be made to the customer every two years or less and at the time the deposit is returned.

C. The deposit shall cease to draw interest on the date it is returned, on the date service is terminated, or on the date notice is sent that the deposit is no longer required to the customer's last known address, by bill insert, or by the notice method selected by the gas utility customer and maintained in the customer's records at the gas utility.

S.C. Code Regs. 103-433

Amended by State Register Volume 10, Issue No. 6, eff June 27, 1986; State Register Volume 14, Issue No. 3, eff March 23, 1990; State Register Volume 32, Issue No. 5, eff May 23, 2008; State Register Volume 48, Issue No. 05, eff. 5/24/2024.