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WAC 480-120-128

Deposit administration.

(1) Transfer of deposit. A company must transfer a customer's deposit, less any outstanding balance, from the account at one service address to another service address, when a customer moves to a new address, is required to pay a deposit, and continues to receive service from that company.
(2) Interest on deposits. Companies that collect customer deposits must pay interest on those deposits calculated:
(a) For each calendar year, at the rate for the one-year Treasury Constant Maturity as of November 15 of the previous year, as calculated by the U.S. Treasury and published in the Federal Reserve's Statistical Release H.15; and
(b) From the date of deposit to the date of refund or when applied directly to the customer's account.
(3) Refunding deposits for retail services. Companies must refund deposits, plus accrued interest, less any outstanding balance, to a retail customer when:
(a) A customer terminates service or services for which a deposit is being held.
A company is not required to refund an amount held on deposit when a customer requests a discontinuation of service or services but requests to establish similar service with a company for which the current deposit holder also provides billing and collection service. The new provider must have authority with the commission to collect deposits; or
(b) The customer has paid for service for twelve consecutive months in a prompt and satisfactory manner as evidenced by the following:
(i) The company has not issued a discontinuation notice against the customer's account for nonpayment during the last twelve months; and
(ii) The company has sent no more than two delinquency notices to the customer in the last twelve months.
(4) A company may apply a deposit refund to a customer's account or, upon customer request, must provide the refund in the form of a check issued and mailed to the customer no later than thirty days after satisfactory payment history is established or thirty days after the date the closing bill is paid when service is terminated.
[Statutory Authority: RCW 80.01.040 and 80.40.160. WSR 05-03-031 (Docket No. UT 040015, General Order No. R-516), § 480-120-128, filed 1/10/05, effective 2/10/05; WSR 03-01-065 (Docket No. UT-990146, General Order No. R-507), § 480-120-128, filed 12/12/02, effective 7/1/03.]
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