§ 1-507.43. Utility service.

181 words·~1 min read·/nc/chapter-1/1-507-43

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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. (2020-75, s. 1.)