Mich. Comp. Laws » Michigan Compiled Laws / Chapter 460 / Act 3 of 1939
Michigan Compiled Laws

Mich. Comp. Laws § 460.10k (2026)

Financing order; effect in connection with bankruptcy.

✓ current as of July 2026
Find cases: SyfertCases citing this section MI-LEGlegislature.mi.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

MICHIGAN PUBLIC SERVICE COMMISSION


Act 3 of 1939


460.10k Financing order; effect in connection with bankruptcy.

Sec. 10k.

    (1) The interest of an assignee or pledgee in securitization property and in the revenues and collections arising from that property are not subject to setoff, counterclaim, surcharge, or defense by the electric utility or any other person or in connection with the bankruptcy of the electric utility or any other entity. A financing order shall remain in effect and unabated notwithstanding the bankruptcy of the electric utility, its successors, or assignees.

    (2) A financing order shall include terms ensuring that the imposition and collection of securitization charges authorized in the order are a nonbypassable charge.

    (3) A financing order shall include a mechanism requiring that securitization charges be reviewed and adjusted by the commission at least annually, within 45 days of the anniversary date of the issuance of the securitization bonds, to correct any overcollections or undercollections of the preceding 12 months and to ensure the expected recovery of amounts sufficient to timely provide all payments of debt service and other required amounts and charges in connection with the securitization bonds.

History: Add. 2000, Act 142, Imd. Eff. June 5, 2000

PopularName Notes:

Customer Choice and Electricity Reliability Act
Notes of Decisions
Cited in 1 case, 2005–2005 · leading case: Consumers Energy Co. v. Pub. Serv. Comm'n, 707 N.W.2d 633 (Mich. Ct. App. 2005).
Sort: Relevance Newest Treatment
Consumers Energy Co. v. Pub. Serv. Comm'n, 707 N.W.2d 633 (Mich. Ct. App. 2005). · cites it 6× “6 *185 First, Consumers argues that the securitization offset improperly allows ROA customers to bypass securitization charges in violation of MCL 460.10k(2). MCL 460.10k(2) provides: A financing order shall include terms ensuring that the imposition and collection of…”
— Mich. Comp. Laws § 460.10k(2) — 1 case
Consumers Energy Co. v. Pub. Serv. Comm'n, 707 N.W.2d 633 (Mich. Ct. App. 2005). “6 *185 First, Consumers argues that the securitization offset improperly allows ROA customers to bypass securitization charges in violation of MCL 460.10k(2). MCL 460.10k(2) provides: A financing order shall include terms ensuring that the imposition and collection of…”
— Mich. Comp. Laws § 460.10k(3) — 1 case
Consumers Energy Co. v. Pub. Serv. Comm'n, 707 N.W.2d 633 (Mich. Ct. App. 2005). “6 *185 First, Consumers argues that the securitization offset improperly allows ROA customers to bypass securitization charges in violation of MCL 460.10k(2). MCL 460.10k(2) provides: A financing order shall include terms ensuring that the imposition and collection of…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.