- Alaska Statutes.
- Title 42. Public Utilities and Carriers
- Chapter 5. Alaska Public Utilities Regulatory Act
- Section 365. Interest On Deposits.
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Section 370. [Repealed, Sec. 5 Ch 113 SLA 1970].
AS 42.05.365. Interest On Deposits.
- (a) A public utility may collect and retain a deposit for contracted recurring monthly service. A public utility that
collects and retains a deposit of over $100 for recurring monthly service shall pay interest on that deposit at or
before the time it is returned. Interest paid under this section shall be at the legal rate of interest at the time
the deposit is made. However, if the deposit is placed in an interest bearing account, the utility shall pay the
interest rate of the interest bearing account.
- (b) If delinquent payments result in interruption of service, a public utility is not required to pay interest under (a)
of this section for 12 months after reestablishment of service.
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