§ 39-1-50 - Interpretation of securitization orders – Judicial review of securitization orders.
SECTION 39-1-50
§ 39-1-50 Interpretation of securitizationorders – Judicial review of securitization orders. – (a) The commission shall have jurisdiction over the interpretation of the termsand conditions of a securitization order, including any petition of an electricdistribution company, assignee or financing party for clarification of theterms of the order. Such jurisdiction shall include matters pertaining toenforcement of the obligations of an electric distribution company, itssuccessor, or any other party providing electric services as described in§ 39-1-45(4), to impose and collect intangible transition charges pursuantto such order. An assignee or financing party shall be entitled, as of right,to be a party to any such proceeding. A securitization order shall remain infull force and effect and, as an exercise of the commission's rate-makingauthority, the jurisdiction of the commission with respect thereto shallcontinue unabated, notwithstanding any bankruptcy, reorganization, dissolutionor insolvency proceedings affecting the electric distribution company or anassignee.
(b) In order to preserve the customer rate savings expectedto result from a securitization order, which may be time-sensitive to financialmarket conditions affecting the feasibility and terms of transition bondsapproved therein, any judicial review of a securitization order or commissiondecision regarding the terms or enforcement of a securitization order shall bein accordance with the provisions of chapter 5 of title 39.