Sec. 104.368. PROPERTY INTEREST NOT SUBJECT TO SETOFF, COUNTERCLAIM, SURCHARGE, OR DEFENSE. The interest of an issuing financing entity or pledgee in customer rate relief property, including the revenue and collections arising from customer rate relief charges, is not subject to setoff, counterclaim, surcharge, or defense by the gas utility or any other person or in connection with the bankruptcy of the gas utility, the authority, or any other entity. A financing order remains in effect and unabated notwithstanding the bankruptcy of the gas utility, the authority, an issuing financing entity, or any successor or assignee of the gas utility, authority, or issuing financing entity.
Added by Acts 2021, 87th Leg., R.S., Ch. 805 (H.B. 1520), Sec. 5, eff. June 16, 2021.
Structure Texas Statutes
Subtitle A - Gas Utility Regulatory Act
Chapter 104 - Rates and Services
Subchapter I. Customer Rate Relief Bonds
Section 104.361. Purpose; Railroad Commission Duty
Section 104.363. Extraordinary Costs
Section 104.364. Jurisdiction and Powers of Railroad Commission and Other Regulatory Authorities
Section 104.365. Regulatory Asset Determination
Section 104.366. Financing Orders and Issuance of Customer Rate Relief Bonds
Section 104.367. Property Rights
Section 104.368. Property Interest Not Subject to Setoff, Counterclaim, Surcharge, or Defense
Section 104.369. Customer Rate Relief Charges Nonbypassable
Section 104.370. True-Up Mechanism
Section 104.371. Security Interests; Assignment; Commingling; Default
Section 104.372. Bond Proceeds in Trust
Section 104.373. Repayment of Customer Rate Relief Bonds
Section 104.374. Pledge of State
Section 104.375. Tax Exemption
Section 104.376. Recoverable Tax Expense
Section 104.377. Issuing Financing Entity or Financing Party Not Public Utility
Section 104.378. No Personal Liability