(a) At the request of an electric company, the Commission may modify an existing qualified rate order, or issue an additional qualified rate order, providing for the issuance of: (1) additional rate stabilization bonds for rate stabilization costs not recovered under an original qualified rate order; or (2) new rate stabilization bonds for the combined purposes of: (i) financing and recovering rate stabilization costs not recovered under an original qualified rate order; and (ii) subject to § 7-533 of this subtitle, retiring and refunding existing rate stabilization bonds. (b) Unless otherwise provided in the modified or additional qualified rate order or in the trust agreement securing the additional or new rate stabilization bonds, the additional or new rate stabilization bonds are: (1) considered to be of the same issue as the original issue; and (2) entitled to payment from the same funds as the original issue, without preference or priority of the rate stabilization bonds of the original issue.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.