§ 8-1-40.5-11 — Securitization property

Indiana § 8-1-40.5-11

• Jurisdiction: Indiana
• Art. 1: UTILITIES GENERALLY
• Ch. 40.5: Pilot Program for Cost Securitization for Retired

Text

(a) Securitization property consists of the
rights and interests of an electric utility, or its successor, under a
financing order, including the following:
(1) The right to impose, collect, and receive securitization
charges, as authorized under the financing order, in an amount
necessary to provide for the full recovery of all qualified costs.
(2) The right under the financing order to obtain periodic
adjustments of securitization charges under section 12(c) of this
chapter.
(3) All revenue, collections, payments, money, and proceeds
arising out of the rights and interests described in this section.
(b) Securitization property constitutes a present property right for
purposes of contracts concerning the sale or pledge of property, even
if the imposition and collection of securitization charges depend on
further acts of the electric utility or others that have not yet occurred.
The securitization property continues to exist, and the financing order
under which the securitization property arises remains in effect, for the
same period as the pledge of the state under section 16(b) of this
chapter.
(c) All revenues and collections resulting from securitization
charges constitute proceeds of only the securitization property arising
from the financing order.

Legislative History

As added by P.L.80-2021, SEC.1.