Idaho State Statutes - Idaho Attorney Directory

(1) Public utilities and assignees
may issue and sell cost reduction instruments upon approval by the commission
of such action in a cost reduction order.
(2) Public utilities and assignees may sell and assign all or portions of
their interest in cost reduction property that is the basis for the issuance
of cost reduction instruments to the extent approved in the pertinent cost
reduction order. To the extent approved in the pertinent cost reduction
orders, public utilities and assignees may also pledge cost reduction property
as collateral, directly or indirectly, for cost reduction instruments
providing for a security interest in the cost reduction property, in the
manner as set forth in this chapter. Cost reduction property may also be sold
or assigned by:
(a) A public utility, an assignee or a trustee for the holders of cost
reduction instruments in connection with the exercise of remedies upon a
default; or
(b) Any person acquiring the cost reduction property after a sale or
assignment pursuant to this subsection.
(3) To the extent that any interest in cost reduction property is so sold
or assigned, or is so pledged as collateral, the commission may authorize the
public utility to contract with an assignee that it will continue to operate
its system to provide service to its customers, will collect amounts with
respect to the cost reduction rates for the benefit and account of the
assignee, and will account for and remit these amounts to or for the account
of the assignee. Contracting with the assignee in accordance with that
authorization shall not impair or negate the characterization of the sale,
assignment or pledge as an absolute transfer, a true sale or security
interest, as applicable.
(4) Upon approval by the commission of a cost reduction order, any
issuance of cost reduction instruments approved therein, any related transfer
or pledge of cost reduction property and any other transactions incidental to
such issuance shall be exempt from the requirements of 61-901 through 61-908,
Idaho Code. The commission may include in any cost reduction order any
additional approvals that may be required in connection with such issuance
under applicable law.
(5) An assignee shall not be considered to be an electric or gas
corporation solely by virtue of the transactions described in this chapter.

Click here to visit the Official Idaho State Statutes