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§ 7-540. Bankruptcy of electric companies or other entities

West's Annotated Code of MarylandPublic Utilities

West's Annotated Code of Maryland
Public Utilities (Refs & Annos)
Division I. Public Services and Utilities [Titles 1-15] (Refs & Annos)
Title 7. Gas, Electric, and Water Companies (Refs & Annos)
Subtitle 5. Electric Industry Restructuring (Refs & Annos)
Part III. Rate Stabilization (Refs & Annos)
MD Code, Public Utilities, § 7-540
Formerly cited as MD PUBLIC UTIL COMP § 7-540
§ 7-540. Bankruptcy of electric companies or other entities
Currentness
Interest in rate stabilization property
(a) The interest of an assignee or pledgee in rate stabilization property and in the revenues and collections arising from that property is not subject to setoff, counterclaim, surcharge, or defense by the electric company or any other person or in connection with the bankruptcy of the electric company or any other entity.
Qualified rate order remains in effect
(b) A qualified rate order remains in effect and unabated notwithstanding the bankruptcy of the electric company, its successors, or assignees.

Credits

Added by Acts 2006, 1st Sp. Sess., c. 5, § 1, eff. June 23, 2006.
MD Code, Public Utilities, § 7-540, MD PUBLIC UTIL § 7-540
Current with legislation effective through June 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document