CHAPTER 248

(SB 18)

Public Utilities Commission, disbursement of
certain funds to customers required.


         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.

     Signed February 1, 2005

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