RS 45:1342

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RS 45:1342

§1342. Construction and effect

A. This Subpart and all powers granted hereby shall be liberally construed to effectuate its and their purposes, without implied limitations thereon. All rights and powers granted in this Subpart to the commission, the corporation, and a trust shall be cumulative with those derived from other sources and shall not, except as expressly stated herein, be construed in limitation thereof.

B. System restoration bonds may be issued pursuant to Subpart A of this Part alone, or pursuant to this Subpart, together with Subpart A of this Part as modified by this Subpart. References in this Subpart to a financing order issued pursuant to this Subpart mean that the financing order is issued pursuant to this Subpart, and in conjunction with Subpart A of this Part, as modified by this Subpart.

C. A utility may finance system restoration costs pursuant to this Subpart that were incurred by a utility prior to the effective date of this Subpart. Further, to the extent that a utility has made application for a determination of eligible system restoration costs prior to the effective date of this Subpart, that application may provide the basis in part for the commission's financing order pursuant to this Subpart and subject to R.S. 45:1333(B)(3).

D. The failure of a utility, its utility affiliate, a trust, or the trustee or any beneficiary thereof to perform their respective obligations pursuant to this Subpart, or under the trust agreement, or applicable financing order, shall not affect or impair the system restoration property, or any rights of the corporation, the issuer, or any financing party under the financing order, including without limitation the right to receive billed and collected system restoration charges. Nothing in this Subsection shall be construed to deny, limit, or diminish the commission's jurisdiction and authority to enforce the provisions of any financing order upon the utility.

Acts 2021, No. 293, §3, eff. June 14, 2021.