NAC704A.550. Refunds of advances.

     1. The telephone company shall annually notify the developer by registered or certified mail of the current status of his account. The notice must be sent to the developer’s last known address.

     2. The developer may give the telephone company a written notice once a month of the number of dwellings which have been completed within the development or which may be served from facilities for the development which are installed not more than 100 feet from it, as evidenced by copies of temporary or permanent certificates of occupancy. Within 45 days after the receipt of any copies of certificates of occupancy, the telephone company shall compute and pay to the developer refund of the advance paid pursuant to NAC 704A.520, as follows:

     (a) If at any time within 10 years after the cash advance was paid, the number of completed dwellings in the development is at least 50 percent but less than 90 percent of the total number of dwellings approved for the development, the telephone company shall refund that amount of the advance which is equal to the proportion of the number of completed dwellings in excess of 50 percent of the total number of dwellings approved for the development to the number of dwellings which equals 50 percent of the total number of dwellings approved for the development, with interest at the rate established in NAC 704A.540; and

     (b) If at any time within 10 years after the cash advance was paid, the number of completed dwellings is 90 percent or more of the total number of dwellings approved for the development, the telephone company shall refund all of the advance.

     3. Any portion of the refundable advance which is not subject to a refund under this section within 10 years after the date on which the construction of the extension is completed must be accounted for as a contribution in aid of construction.

     4. If there is a dispute about the number of completed dwellings, a refund must be made within 45 days after the dispute is resolved.

     5. Except for payment of interest, a refund must not exceed the total refundable cash advance paid by the developer.

     6. The telephone company or its subsidiaries shall not lend money to the developer or his agent, representative or subsidiary.

     (Added to NAC by Pub. Service Comm’n, eff. 3-15-84)