54-3-26 - Retention of unclaimed capital credits by electric and telephone cooperatives -- Use of retained money -- Reporting requirements. - Utah Statutes

54-3-26. Retention of unclaimed capital credits by electric and telephonecooperatives -- Use of retained money -- Reporting requirements.
Each electric and telephone cooperative shall:
(1) retain capital credits given to customers of electric and telephone cooperatives in thisstate that remain unclaimed for a period of three years after the end the year in which the credit isgiven;
(2) use the money retained solely to:
(a) assist low-income persons to pay their utility bills; and
(b) provide scholarships to local graduating high school seniors;
(3) establish guidelines based on factors such as income or special needs to determinepersons who qualify; and
(4) submit copies annually to the Public Service Commission of:
(a) the cooperative's guidelines; and
(b) amounts and disposition of retained capital credits by individual recipients.

Enacted by Chapter 198, 1995 General Session