ENTITLED, An Act to
require the Public Utilities Commission to disburse certain bond or other
proceeds to affected customers.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section
1.
That chapter
49-31
be amended by adding thereto a NEW SECTION to read as
follows:
Upon receipt of any bond, letter of credit, or other proceeds that are payable to the commission
and were issued to protect the financial interests of customers of a telecommunications company,
the commission shall disburse the proceeds to affected customers pursuant to chapter 1-26. Any
interest and other revenue earned on the proceeds shall accrue for the benefit of the affected
customers.