S.D. Admin. R. 20:10:08:10

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:10:08:10 - Interest to be paid by the telecommunications company

Each telecommunications company shall pay interest on a deposit at the rate of 7 percent per annum. Any change in the rate set by this rule shall affect only those deposits accepted after the change. Interest shall accrue from the day of acceptance of the deposit and shall be available annually upon demand of the subscriber. A company shall not be required to pay interest on a deposit for the 90-day period following disconnection of service, if during such period the utility has made a reasonable effort to refund the deposit. Thereafter, an unclaimed deposit plus accrued interest shall be credited to an appropriate account.

S.D. Admin. R. 20:10:08:10

SL 1975, ch 16, § 1; 12 SDR 85, effective 11/24/1985; 12 SDR 151, 12 SDR 155, effective 7/1/1986.

General Authority: SDCL 49-31-5.

Law Implemented: SDCL 49-31-5.