Terms Used In Montana Code > Title 69 > Chapter 3 > Part 15 - Material Affiliate Transactions

• Affiliate: means an entity closely connected or associated with a regulated energy utility. See Montana Code 69-3-1501
• Affiliate transaction: means a financial transaction between the utility operations of a regulated energy utility and an affiliate. See Montana Code 69-3-1501
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• commission: means the public service commission provided for in 2-15-2602. See Montana Code 69-1-101
• Material affiliate transaction: means an affiliate transaction that has a significant potential impact on the financial stability of a regulated energy utility, including but not limited to:

  (a)dividend payments from a regulated energy utility to a corporate parent company if those payments would place the regulated energy utility's credit quality or property in jeopardy;

  (b)intercompany loans or other extensions of credit or advances of working capital between a regulated energy utility and an affiliate if those activities would place the regulated energy utility's credit quality or property in jeopardy;

  (c)the use of proceeds in issuing securities for which the assets of the regulated energy utility are pledged; or

  (d)external borrowing by a regulated energy utility with a term greater than 120 days if the loan would place the regulated energy utility's credit quality or property in jeopardy. See Montana Code 69-3-1501

• Property: means real and personal property. See Montana Code 1-1-205
• Regulated energy utility: means a public utility with more than 100 customers that owns distribution facilities for the distribution of electricity or natural gas to the public and that is regulated by the commission pursuant to this title. See Montana Code 69-3-1501