§ 7-543
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/md/public-utilities/7-543A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§7–543.
(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.