This text of Indiana § 12-20-16-3.5 (Prepaid electric service) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
5.
(a)This section applies only to a township
assistance recipient who has prepaid service.
(b)As used in this section, "electric service provider" means a
corporation organized under:
(2)IC 23-17 that:
(A)is an electric cooperative; and
(B)has at least one (1) member that is a corporation organized
under IC 8-1-13.
(c)As used in this section, "prepaid service" refers to a payment
option offered by an electric service provider in which payments for
electric usage are charged against a prepaid credit balance in a service
account as electric service is rendered.
(d)As used in this section, "recipient" means a township assistance
recipient.
(e)As used in this section, "service account" means a customer or
member account with an electric service provider.
Free access — add to your briefcase to read the full text and ask questions with AI
5. (a) This section applies only to a township
assistance recipient who has prepaid service.
(b) As used in this section, "electric service provider" means a
corporation organized under:
(1) IC 8-1-13; or
(2) IC 23-17 that:
(A) is an electric cooperative; and
(B) has at least one (1) member that is a corporation organized
under IC 8-1-13.
(c) As used in this section, "prepaid service" refers to a payment
option offered by an electric service provider in which payments for
electric usage are charged against a prepaid credit balance in a service
account as electric service is rendered.
(d) As used in this section, "recipient" means a township assistance
recipient.
(e) As used in this section, "service account" means a customer or
member account with an electric service provider.
(f) Notwithstanding IC 12-20-20-1 or any other law, if the
requirements of this section are met, a township trustee and an electric
service provider may do the following:
(1) A township trustee may deposit township assistance funds into
a service account to create a credit balance.
(2) An electric service provider may pay a recipient's electric
usage charges with the deposited township assistance funds as
those electric usage charges are incurred. However, any personal
funds that are present in the service account at the time the
township assistance funds are deposited must be used to pay any
electric usage charges first, before the use of township assistance
funds.
(g) An electric service provider shall do the following:
(1) Hold any funds deposited under subsection (f)(1) in a
fiduciary capacity for the township trustee. The township trustee
is the beneficiary of any township assistance funds remaining:
(A) at the close of business:
(i) on the day that a service account is terminated; or
(ii) on the next business day, if the service account is
terminated after the close of normal business hours; or
(B) at the close of business:
(i) on the day a request is received by the electric service
provider from the township trustee for remittance of the
funds; or
(ii) on the next business day, if the request for remittance
occurs after the close of normal business hours.
(2) Remit any funds remaining in a service account or terminated
service account not later than fifteen (15) business days after:
(A) the service account is terminated as set forth in subdivision
(1)(A); or
(B) the electric service provider receives a request for
remittance from the township trustee as set forth in subdivision
(1)(B).
(h) For any month that:
(1) an electric service provider receives or expends township
assistance funds provided by a township trustee; or
(2) a service account has a remaining balance of township
assistance funds, including any balance of township assistance
funds remaining in an individual service account for any prior
months;
the electric service provider shall provide the township trustee with a
monthly accounting statement not later than fifteen (15) business days
following the last calendar day of the month. A monthly accounting
statement must detail the receipt and expenditure of funds from service
accounts during that month and any balances remaining in individual
service accounts.
(i) This section may not be interpreted as requiring an electric
service provider to:
(1) remit to a township trustee more funds than are available in a
service account at the close of business on the day that:
(A) a service account is terminated as set forth in subsection
(g)(1)(A); or
(B) the electric service provider receives a request for
remittance as set forth in subsection (g)(1)(B); or
(2) maintain separate service accounts or account numbers for
township assistance funds.
(j) The funds deposited into a service account may be used only to
pay for a recipient's electric usage, including any facility charges, and
may not be used to pay administrative charges, equipment,
maintenance, repair, disconnection fees, delinquent bills, or any other
charge.
(k) If the electric service provider refunds charges paid from the
service account, or repays any remaining credit balance in the service
account, the refund or repayment shall be paid directly to the township
trustee.
(l) During any calendar month, the township trustee may deposit
township assistance funds in the service account only to the extent that
the credit balance in the service account does not exceed the charges
incurred by the recipient during the immediately preceding calendar
month.