Section 1220-04-05-.14 - CUSTOMER DEPOSITS(1) Each utility may require from any customer or prospective customer a deposit intended to guarantee payment of bills for service.(a) A deposit shall be at the option of the company not more in amount than the maximum estimated charge for service for two (2) consecutive billing periods or ninety (90) days, whichever is less, or as may reasonably be required by the utility in cases involving service for short periods or special occasions.(b) Any interest rates on deposits will be approved by the Authority.(c) Each utility shall keep records to show: 1. the name and address of each depositor;2. the amount and date of the deposit;3. each transaction concerning the deposit.(d) Each utility shall issue a receipt of deposit to each customer from whom a deposit is received, and shall provide means whereby a depositor may establish his/her claim if his/her receipt is lost.(e) The utility may retain the deposit as long as it feels it is necessary to insure payment of bills for service.(f) A record of each unclaimed deposit must be maintained at least three (3) years, during which time the utility shall make a reasonable effort to return the deposit.(g) Unclaimed deposits, together with accrued interest, shall be credited to an appropriate account.Tenn. Comp. R. & Regs. 1220-04-05-.14
Original rule certified May 9, 1974. Editorial changes made by the Secretary of State pursuant to Public Chapter 305 of 1995; "Commission" and references to the "Commission" were changed to "Authority" and references to the "Authority"; effective March 28, 2003.Authority: T.C.A. § 65-2-102.