N.M. Admin. Code § 17.5.410.19 - REFUND OF DEPOSITS, TERMINATION OF GUARANTEES
A. Any residential customer who has not been
chronically delinquent for the twelve-month period from the date of deposit or
guarantee shall promptly receive a credit or refund in the amount of the
deposit together with accrued interest due or shall be permitted to terminate
any guarantee. If the amount of the deposit exceeds the amount of the current
bill, the residential customer may request a refund in the amount of the excess
if such excess exceeds twenty five dollars ($25). If the residential customer
fails to qualify for a refund of the deposit on the first anniversary date of
the deposit, that account shall be reviewed at least annually, and the amount
of the deposit shall be credited if the residential customer has not been
chronically delinquent during the preceding twelve (12) months. A residential
customer may request a refund at any time after twelve (12) months payment
history, which refund shall promptly be paid if the residential customer has
not been chronically delinquent during the prior twelve-month (12) period, or a
utility may pay such refund in the absence of a request within a reasonable
period of time.
B. Unclaimed
deposits shall be handled as provided by law.
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