Plain Text Law

Title 18 — Subtitle 16. Rate Stabilization Property

Chapter 01. General Provisions

Regulation .01 Scope.Copy Citation

The regulations set forth in this subtitle are effective with respect to any filing on or after July 1, 2006.

Regulation .02 Definitions.Copy Citation

A.
In this subtitle, the following terms have the meanings indicated.
B.
Terms Defined.
(1)
“Amendment” means a record that amends a previously filed record.
(2)
“Assignee” has the meaning stated in Public Utilities Article, §7-520(b), Annotated Code of Maryland.
(3)
“Assignor” means an electric company or other person that transfers an interest in rate stabilization property to an assignee.
(4)
“Case number” means a number assigned by the Commission to a docketed matter.
(5)
“Commission” means the Public Service Commission of Maryland, including a duly appointed successor entity.
(6)
“Correction” means a record that corrects a previously filed record.
(7)
“Date of delivery of transfer documents to assignee” means the date of delivery of documents pursuant to Public Utilities Article, §7-542(c), Annotated Code of Maryland.
(8)
“Date value received for rate stabilization bonds” means the date certain that consideration is received for rate stabilization bonds.
(9)
“Electric company” has the meaning stated in Public Utilities Article, §7-521, Annotated Code of Maryland.
(10)
“Filing” means presenting a record to the filing office.
(11)
“Filing date” means the date on which the filing office is presented with a record as evidenced by a notation on the record and a permanent entry in the information management system of the filing office.
(12)
“File number” means a unique identifying number assigned by the information management system of the filing office to a record filed pursuant to this subtitle.
(13)
“Filing office” means the State Department of Assessments and Taxation.
(14)
“Filing party” means a person that makes a filing pursuant to this subtitle.
(15)
“Filing time” means the time of day at which the filing office is presented with a record as evidenced by a notation on the record and a permanent entry in the information management system of the filing office.
(16)
“Financing party” has the meaning stated in Public Utilities Article, §7-520(c), Annotated Code of Maryland.
(17)
“Grantor” means an electric company or other person that grants a security interest in a rate stabilization property to another entity.
(18)
“Person” has the meaning stated in Public Utilities Article, §1-101(m), Annotated Code of Maryland.
(19)
“Qualified rate order” has the meaning stated in Public Utilities Article, §7-520(d), Annotated Code of Maryland.
(20)
“Qualified rate stabilization charge” has the meaning stated in Public Utilities Article, §7-520(e), Annotated Code of Maryland.
(21)
“Rate stabilization bond” has the meaning stated in Public Utilities Article, §7-520(f), Annotated Code of Maryland.
(22)
“Rate stabilization cost” has the meaning stated in Public Utilities Article, §7-520(g), Annotated Code of Maryland.
(23)
“Rate stabilization property” has the meaning stated in Public Utilities Article, §7-520(i), Annotated Code of Maryland.
(24)
Record.
(a)
“Record” means a document filed with the filing office on the form approved by the filing office entitled “Rate Stabilization Property Notice”.
(b)
“Record” includes:
(i)
The notice of a security interest in rate stabilization property pursuant to Public Utilities Article, §7-542(b), Annotated Code of Maryland, and all amendments, corrections, and terminations related to that notice; and
(ii)
The notice of sale and transfer to an assignee of an interest (other than a security interest) in rate stabilization property and all amendments, corrections, and terminations related to that notice.
(25)
“Termination” means a record that indicates that the related rate stabilization property notice has ceased to be effective as to the financing party or assignee authorizing the termination.

Regulation .03 Duties and Responsibilities.Copy Citation

A.
The duties and responsibilities of the filing office with respect to the filing of records pursuant to this subtitle are ministerial.
B.
In accepting or refusing to accept a record, the filing office does not:
(1)
Determine the legal sufficiency or insufficiency of a record;
(2)
Determine that a security interest in rate stabilization property exists or does not exist;
(3)
Determine that information in the record is correct or incorrect, in whole or in part; or
(4)
Create a presumption that information in the record is correct or incorrect, in whole or in part.
C.
The responsibility for the legal effectiveness of a record rests with the filing party and the filing office bears no responsibility for effectiveness.
D.
The State and the filing office and its employees, agents, and servants are immune from liability occurring as a result of errors in or omissions of information provided from the filing office's information management system or any other errors or omissions with respect to filings.

Regulation .04 Date, Time, and Method of Filing.Copy Citation

A.
A record shall be filed with the filing office by the filing party.
B.
A record shall be filed on the form approved by the filing office or an identical replication of the form.
C.
Hand delivery to the filing office shall be the sole method for filing a record.
D.
The filing office is open to the public between the hours of 8:30 a.m. and 5 p.m., Monday through Friday, except for State holidays.
E.
The filing date and filing time of a record shall be as defined in Regulation .02 of this chapter.
F.
The filing office shall assign a unique file number to a record.
G.
An acknowledgement of acceptance by the filing office of a record shall be provided to the filing party.

Regulation .05 Grounds for Refusal of a Record.Copy Citation

The filing office shall refuse to accept a record and provide an explanation for the refusal if:
A.
An item on the record fails to contain a required entry by the filing party;
B.
An entry on the record fails to be legible and capable of being imaged by the filing office's information management system;
C.
A record purporting to add an assignor, grantor, financing party, or assignee fails to include a legible name and address of the assignor, grantor, financing party, or assignee;
D.
A record fails to identify itself as a new or supplemental filing;
E.
A record, when applicable, fails to indicate its purpose or fails to provide the file number of the affected rate stabilization property notice existing in the information management system of the filing office;
F.
A record fails to include the information requested on the approved form as to whether the notice relates to all or a portion of the recovery permitted under a qualified rate order;
G.
A record fails to include in legible form the:
(1)
Qualified rate order number and case number;
(2)
Name of the electric company in the order;
(3)
Date that value is received for the rate stabilization bonds;
(4)
Signatures and names of the assignor or grantor and assignee or financing party; or
(5)
If an assignment, date of delivery of the transfer documents to the assignee; or
H.
A record includes any other entry or omission inconsistent with the purpose and intent of the Public Utilities Article, Annotated Code of Maryland.

Chapter 02. Information Management System

Regulation .01 Indices.Copy Citation

A.
The filing office shall maintain a unique computer index of records.
B.
Each record shall be indexed by:
(1)
Assignee or financing party;
(2)
Assignor or grantor;
(3)
File number; and
(4)
Qualified rate order number.
C.
A record shall be retrievable by each index.

Regulation .02 Record Availability.Copy Citation

A.
All records shall be available on the filing office's website as imaged documents.
B.
All records shall be permanently maintained.