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Maryland Code, Public Utilities § 7-543

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) This section applies to a person that is a successor to an electric company, whether through:

(1) a reorganization, bankruptcy, or other insolvency proceeding;

(2) a merger or acquisition, sale, or other business combination; or

(3) a transfer by operation of law.

(b) A successor to an electric company shall perform and satisfy all obligations of, and have the same rights under a qualified rate order as, the electric company under the qualified rate order in the same manner and to the same extent as the electric company, including:

(1) collecting the revenues, collections, payments, or proceeds of the rate stabilization property; and

(2) paying them to the person entitled to receive them.

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Cite this article: FindLaw.com - Maryland Code, Public Utilities § 7-543 - last updated January 01, 2025 | https://codes.findlaw.com/md/public-utilities/md-code-public-util-sect-7-543/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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