N.M. Admin. Code § 17.11.28.26

Current through Register Vol. 35, No. 23, December 10, 2024

Section 17.11.28.26 - CONSUMER PREPAID ACCOUNT BALANCES

A. No ICSP may charge any rates or fees to a prepaid account unless such rate or fee is contained in a current tariff that has been approved by the commission.

B. Prepaid accounts are deemed to be "utility deposits" for purposes of Section 2 of the Uniform Unclaimed Property Act, Section 7-8A-1 NMSA 1978

C. If a prepaid account has not been subject to any activity for six months, the ICSP shall refund the balance of the prepaid account to the account holder. If an ICSP is unable to locate the account holder or otherwise effectuate a refund within eighteen months of the most recent date of activity, the ICSP shall deliver the balance of the prepaid account to the taxation and revenue department or its agent for administration under the terms of the Uniform Unclaimed Property Act, Section 7-8A-1 NMSA 1978.

N.M. Admin. Code § 17.11.28.26

Adopted by New Mexico Register, Volume XXXIV, Issue 21, November 7, 2023, eff. 11/7/2023