89-12-9 - Presumed abandonment of funds held or owing by utility. - Mississippi Statutes

§ 89-12-9. Presumed abandonment of funds held or owing by utility.
 

Subject to the provisions of Section 89-12-17 of this chapter, the following funds held or owing by any utility shall be presumed abandoned: 
 

(a) Any deposit made by a subscriber with a utility to secure payment for, or any sum paid in advance for, utility services to be furnished in this state, less any lawful deductions, that has remained unclaimed by the person appearing on the records of the utility entitled thereto for more than five (5) years after the termination of the services for which the deposit or advance payment was made. 

(b) Any sum which a utility has been ordered to refund and which was received for utility services rendered in this state, together with any interest thereon, less any lawful deduction, that has remained unclaimed by the person appearing on the records of the utility entitled thereto for more than five (5) years after the date it became payable in accordance with the final determination or order providing for the refund. 
 

Sources: Laws,  1982, ch. 497, § 5; Laws, 1991, ch. 451, § 4, eff from and after July 1, 1991.