Section 1220-04-13-.08 - STANDARD FORMS FOR FILING FINANCIAL SECURITY(1) Corporate surety bonds or letters of credit filed to comply with TPUC Rule 1220-04-13-.07 shall include the following terms:(a) The name and identification number assigned to the utility by TPUC;(b) The name and contact information for the providers of the corporate surety bond or letter of credit;(c) A statement identifying the TPUC as the beneficiary;(d) A statement of the amount of the surety bond or letter of credit;(e) A statement indicating that the financial security is required by Tenn. Code Ann. § 65-4-201 and TPUC Rule 1220-04-13-.07;(f) A statement indicating that after action under TPUC 1220-04-13-.09 the Commission may assess a sum sufficient of this bond, up to its maximum sum;(g) A statement that the provider of the corporate surety bond or letter of credit will promptly pay the Tennessee Public Utility Commission via wire transfer upon notice that the TPUC has taken action pursuant to TPUC Rule 1220-04-13-.09; and(h) A statement that the provider of the corporate surety bond or letter of credit shall provide the TPUC at least a ninety (90) day notice in the event of a non-renewal or termination of the corporate surety bond or letter of credit.(2) The Commission may require additional terms in a letter of credit to ensure access to funds in the event of action per TPUC Rule 1220-04-13-.09.(3) Providers of the corporate surety bond or letter of credit shall be authorized to do business in the state of Tennessee.Tenn. Comp. R. & Regs. 1220-04-13-.08
Public necessity rule filed December 29, 2005; effective through June 12, 2006. Original rule filed March 29, 2006; effective June 12, 2006. Administrative changes made to this chapter on April 27, 2018 pursuant to Public Chapter 94 of 2017; "Tennessee Regulatory Authority" references were changed to "Tennessee Public Utility Commission," "Authority" references were changed to "Commission," "Authority Director" references were changed to "Commissioner," and "Chief" references were changed to "Director." Amendments filed September 5, 2018; effective 12/4/2018.Authority: T.C.A. §§ 65-2-102, 65-2-106, and 65-4-104, 65-4-114, and 65-4-203.