(A) No utility company, as defined in this chapter shall require a cash deposit to establish or reestablish credit in an amount in excess of one-twelfth of the estimated charge for regulated service(s) provided by that utility company for the ensuing twelve months, plus thirty per cent of the monthly estimated charge. Each utility company, upon request, shall furnish a copy of rules 4901:1-17-03 to 4901:1-17-06 of the Administrative Code, to the applicant/customer from whom a deposit is required. If a copy of the rules in this chapter is provided to the applicant/customer, the utility company shall also provide the name, address, website address, and telephone number of the public utilities commission of Ohio.
(B) Upon receiving a cash deposit, the utility company shall furnish to the applicant/customer a receipt that displays all of the following information:
(1) The name of the applicant/customer.
(2) The address of the premises to be served.
(3) The billing address for the service.
(4) The amount of the deposit and a statement that the rate of interest to be paid on the deposit will be not less than three per cent per annum if the deposit is held for one hundred eighty days or longer.
(C) Each utility company shall accrue interest at a rate of at least three per cent per annum per deposit held for one hundred eighty days or longer. Interest shall be paid to the customer when the deposit is refunded or deducted from the customer's final bill. A utility company shall not be required to pay interest on a deposit it holds for less than one hundred eighty days. No utility company shall be required to pay additional interest on a deposit after discontinuance of service, if the utility company has made a reasonable effort to refund the deposit. A utility company shall dispose of any unclaimed deposit, plus accrued interest, in conformity with Chapter 169. of the Revised Code.
R.C. 119.032 review dates: 01/09/2009 and 11/30/2013
Promulgated Under: 111.15
Statutory Authority: 4905.04
Rule Amplifies: 4905.06 , 4905.22 , 4933.17
Prior Effective Dates: 5/16/71, 12/1/83 (Emer.), 9/1/04