California Public Utilities Code

§ 850.3

PUC § 850.3 Effective Jan 1, 2019Div. 1 · Part 1 · Ch. 4 · Art. 5.8

Statute text

(a)A security interest in recovery property is valid, is enforceable against the pledgor and third parties, is subject to the rights of any third parties holding security interests in the recovery property perfected in the manner described in this section, and attaches when all of the following have taken place:

(1)The commission has issued a financing order authorizing the fixed recovery charges included in the recovery property.

(2)Value has been given by the pledgees of the recovery property.

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Legislative history

Added by Stats. 2018, Ch. 626, Sec. 32. (SB 901) Effective January 1, 2019.