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This entry was published on 2014-09-22
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Alternate financing method
Public Service (PBS) CHAPTER 48, ARTICLE 7-A
§ 135-l. Alternate financing method. Notwithstanding the provisions of
sections one hundred thirty-five-d and one hundred thirty-five-g of this
article, a utility may satisfy its obligation to provide financing to
eligible customers by concluding financial arrangements with two or more
lending institutions in this state engaged in making home improvement
loans to provide loans to eligible customers for home conservation
programs pursuant to this article, provided that such loans shall be
under such terms and conditions as are consistent with the terms and
conditions of section one hundred thirty-five-g. The utility may
guarantee such loans where the commission determines that such action is
in furtherance of the public interest. If the commission determines it
to be necessary, to facilitate the home improvement loans authorized by
this article, it may require a utility to maintain a supply of loan
application forms for such loans.