1. If a court determines that the rate or rates considered by the Commission are excessive, and that the public utility has collected those excessive rates, the public utility shall compute and refund the excess or overpayment of the rate or rates pursuant to a plan approved by the Commission within 60 days after the entry of the final judgment of the court.

2. The public utility shall prepare and file with the Commission a statement and report in affidavit form stating that all money has been refunded according to the approved plan, and if there are persons to whom payment has not or cannot be made, the names, addresses and individual amounts of the refund must be listed in the report. The statement and report must be filed with the Commission within 90 days after the entry of final judgment. The public utility shall pay the aggregate amount of the unpaid refunds to the Commission.

3. The Commission shall:

(a) Retain the aggregate refunds in the Public Utilities Commission Regulatory Fund subject to the claim of each person entitled thereto for the person’s share in the refund; and

(b) Pay all valid claims which are presented for payment within 2 years after the date of the entry of final judgment of the court.

All claimants must identify themselves to the satisfaction of the Commission before payment may be made.

4. Any person has a right of action against the Commission in the event of a refusal of the Commission to pay the person’s claim if the person’s name appears in the report filed by the public utility. This action against the Commission must be brought within 6 months after the refusal to pay the claim.

5. The Commission shall investigate every case in which a claim is presented to it by a person claiming a refund under a plan submitted by a public utility which was approved by the Commission. If the investigation results in a refusal by the public utility to pay a valid claim, then the claimant has a right of action against the public utility.

6. Any unclaimed money which remains in the custody of the Commission at the expiration of the 2-year period escheats to this State.

(Added to NRS by 1983, 966; A 1995, 2607; 1997, 1888, 2667; 1999, 492)