California Public Utilities Code

§ 843

PUC § 843 Effective Jan 1, 2000Div. 1 · Part 1 · Ch. 4 · Art. 5.5

Statute text

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

(1)The commission has issued the financing order authorizing the fixed transition amounts included in the transition property.

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

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Legislative history

Amended by Stats. 1999, Ch. 991, Sec. 55. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991.