California Public Utilities Code

§ 3280

PUC § 3280 Effective Sep 19, 2025Div. 1 · Part 6 · Ch. 1

Statute text

For purposes of this part, all of the following definitions apply:

(a)“Account” means the Continuation Account created pursuant to Section 3298. This subdivision shall become operative upon all large electrical corporations electing to participate in the account pursuant to Section 3299.

(b)“Account assets” means the sum of all moneys and invested assets held in the account, which shall include, without limitation, any loans or other investments made by the state to the account, all interest or other income from the investment of money held in the account, any other funds specifically designated for the account by applicable law, the proceeds of any special charge or continuation of existing charge allocated to and deposited into the account, reinsurance, and the proceeds of any bonds issued for the benefit of the account. This subdivision shall become operative upon all large electrical corporations electing to participate in the account pursuant to Section 3299.

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Legislative history

Amended by Stats. 2025, Ch. 119, Sec. 40. (SB 254) Effective September 19, 2025.