(a) The interest of an assignee or pledgee in rate stabilization property and in the revenues and collections arising from that property is not subject to setoff, counterclaim, surcharge, or defense by the electric company or any other person or in connection with the bankruptcy of the electric company or any other entity.
(b) A qualified rate order remains in effect and unabated notwithstanding the bankruptcy of the electric company, its successors, or assignees.
Structure Maryland Statutes
Division I - Public Services and Utilities
Title 7 - Gas, Electric, and Water Companies
Subtitle 5 - Electric Industry Restructuring
Section 7-522 - Filing Rate Stabilization Plan
Section 7-524 - Tariffs Implementing Rate Stabilization Plan; Application for Qualified Rate Order
Section 7-525 - Recovery of Actual Cost of Deferred Expenses
Section 7-526 - Application for Qualified Rate Order
Section 7-527 - Order to Include Costs and Recovery Time Period
Section 7-528 - Effectiveness and Irrevocability; Review
Section 7-529 - Time Limit for Commission's Decision
Section 7-530 - Qualified Rate Stabilization Charges -- Imposition and Collection Are Nonbypassable
Section 7-531 - Commission to Establish Procedures and Time Frames for Review
Section 7-532 - Termination, Expiration, and Extension of Orders
Section 7-533 - Retiring and Refunding Bonds
Section 7-534 - Modified or Additional Qualified Rate Orders
Section 7-535 - Bond Not Debt, Liability, or Pledge of State or Governmental Unit
Section 7-536 - Permissible Provisions of Order
Section 7-537 - Rate Stabilization Property
Section 7-538 - Exemption From Taxes and Charges
Section 7-539 - Status of Agreement as Sale
Section 7-541 - Required Statements in Electric Bills
Section 7-542 - Liens or Assignments of Rate Stabilization Property
Section 7-543 - Successors to Perform and Satisfy Obligations