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Current as of January 01, 2025 | Updated by Findlaw Staff
1. Every public utility which furnishes the public with light and power, telephone service, gas or water, or any of them, shall pay to every customer from whom any deposit has been required interest on the deposit at the rate fixed for 6-month Treasury bills of the United States at the first auction:
(a) On or after December 1 of any year for the period from January 1 to June 30 of the succeeding year; or
(b) On or after June 1 of any year for the period from July 1 to December 31 of that year,
from the date of deposit until the date of settlement or withdrawal of deposit. Where the deposit remains for 1 year or more and the person making the deposit continues to be a customer, the interest on the deposit must be either paid in cash to the depositor or applied on current bills for the use of the service provided by the public utility, as the depositor may desire.
2. Any public utility which fails, refuses or neglects to pay the interest provided in subsection 1 in the manner required by subsection 1 is guilty of a misdemeanor.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 58. Energy; Public Utilities and Similar Entities § 704.655. Public utility required to pay interest on deposits made by customers; penalty - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-58-energy-public-utilities-and-similar-entities/nv-rev-st-704-655/
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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