2005 Texas Utilities Code CHAPTER 183. UTILITY DEPOSITS


UTILITIES CODE
CHAPTER 183. UTILITY DEPOSITS
§ 183.001. DEFINITIONS. In this chapter: (1) "Commission" means the Public Utility Commission of Texas. (2) "Utility" means a person, firm, company, corporation, receiver, or trustee who furnishes water, electric, gas, or telephone service. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. § 183.002. INTEREST ON DEPOSIT. A utility that requires the user of a service to pay a money deposit as a condition to furnishing the service shall pay interest on the deposit from the time the deposit is made. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. § 183.003. RATE OF INTEREST. The commission each December 1, or the next regular workday if December 1 is a Saturday, Sunday, or legal holiday, shall set the annual interest rate for the next calendar year on deposits governed by this chapter at the average rate paid over the previous 12-month period on United States treasury bills with a 26-week maturity. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. Amended by Acts 2005, 79th Leg., ch. 1320, § 1, eff. Sept. 1, 2005. § 183.004. INTEREST PAYMENT TO DEPOSITOR. A utility shall pay interest on the deposit to the depositor or the depositor's heirs or assigns annually on demand or sooner if the service is discontinued. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. § 183.005. RETURN OF DEPOSIT. (a) When the service is discontinued, the utility shall return the deposit and any unpaid interest on the deposit to the depositor or the depositor's heirs or legal representatives. (b) The utility company may deduct from the amount returned under Subsection (a) any payments due for the services. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. § 183.006. CRIMINAL PENALTY. (a) A person commits an offense if the person violates this chapter. (b) An offense under this section is punishable by: (1) a fine of not less than $25 and not more than $200; (2) confinement in jail for not less than six months and not more than one year; or (3) both the fine and confinement. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997.

Disclaimer: These codes may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.