N.Y. Public Service Law Section 117
Consumer deposits

Except as the right to require deposits is further limited by § 36 (Residential service deposits)section thirty-six of this chapter, a gas corporation, an electric corporation, a gas and electric corporation, a water corporation, a steam corporation, a telegraph corporation, a telephone corporation or a municipality rendering equivalent utility services may, unless prohibited by the commission, require any person to whom such corporation or municipality shall supply gas, electric, water, steam, telegraph or telephone services to deposit a reasonable sum of money according to the estimated quantity of such services necessary to supply the same for two calendar months, to secure payment for such services actually rendered, or for the rental of fixtures, instruments and facilities actually supplied, but every such corporation and municipality shall allow to every such depositor interest at a rate per annum to be prescribed from time to time, at least annually, by the commission in the light of current economic conditions and current charges paid for other moneys borrowed by such corporation or municipality, and the expenses incurred by such corporation or municipality in obtaining, handling and returning or crediting the sum deposited, on the sum or sums so deposited, payable upon the return of the deposit or at earlier intervals as hereinafter prescribed. Whenever such deposit has been held for a period of one year, the interest accrued on such deposit shall be credited to the depositor on the first billing for utility service rendered after the next succeeding first day of October. If the depositor was not delinquent in the payment of any bill in such one year period, the deposit shall be refunded promptly at the end thereof, but without prejudice to the right to require a deposit thereafter in the event of a delinquency or where it can be shown that the financial condition of a business customer is such that it is likely that the customer may default in the future, and to retain such deposit for a prudent period; except that subject to such regulations as the commission may establish, if the deposit is for utility service rendered to a business, the deposit may be retained for a prudent period beyond such a one year period. No provider of utility services shall require of its customer within its service area a new security deposit where such customer was not required to post a security deposit or had a security deposit returned pursuant to this section and such customer establishes a new residence and continues service with the same provider of utility services.

Source: Section 117 — Consumer deposits, https://www.nysenate.gov/legislation/laws/PBS/117 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

105
Purposes of article 106
Approval of loans 107
Approval of the use of revenues 108
Approval of dissolution and of certificates of merger or consolidation, certificates of amendment of certificates of incorporation, and r... 109
Appearances of municipal corporations 110
Control of holding companies and of transactions between affiliated interests 111
Additional information in annual reports 111‑A
Additional information in annual reports 112
Judicial enforcement of rate-fixing orders of the commission 112‑A
Appointment of temporary operator 113
Reparations and refunds 114
Temporary rates 114‑A
Rates not to include cost of legislative lobbying 115
Public letting of contracts 116
Discontinuance of water service to multiple dwellings 117
Consumer deposits 118
Payment to an authorized payment agency 119
Reorganization of public utility corporations under the national bankruptcy act 119‑A
Attachments to utility poles 119‑B
Protection of underground facilities 119‑C
Tax reduction benefit to ratepayers 119‑D
Maintenance of utility poles

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N.Y. Public Service Law Section 117 Consumer deposits

N.Y. Public Service Law Section 117
Consumer deposits