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Current as of January 01, 2023 | Updated by FindLaw Staff
(a) No Discontinuance of Utility Service.--Except as provided in subsection (b) of this section, a utility providing service to receivership property that has received written notice from the receiver of the appointment of the receiver may not alter, refuse, or discontinue service to the receivership property.
(b) Adequate Assurance of Payment.--A utility providing service to receivership property that has received written notice from the receiver of the appointment of the receiver may alter, refuse, or discontinue service to the receivership property if neither the receiver nor the debtor, within 30 days after the time of appointment, furnishes adequate assurance of payment, in the form of a cash deposit, letter of credit, certificate of deposit, surety bond, prepayment of utility consumption, or other security mutually agreed on between the utility and the receiver or the debtor, for service after such time. On motion by a party in interest and after notice and a hearing, the court may order reasonable modification of the amount or form of the adequate assurance of payment.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 1. Civil Procedure § 1-507.43. Utility service - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-1-civil-procedure/nc-gen-st-sect-1-507-43/
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 or via Westlaw before relying on it for your legal needs.
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