Section 848.5 Of Article 5.6. Financing Utility Recovery From California Public Utilities Code >> Division 1. >> Part 1. >> Chapter 4. >> Article 5.6.
848.5
. Any successor to the recovery corporation, whether pursuant
to any bankruptcy, reorganization, or other insolvency proceeding, or
pursuant to any merger, sale, or transfer, by operation of law, or
otherwise, shall perform and satisfy all obligations of the recovery
corporation pursuant to this article in the same manner and to the
same extent as the recovery corporation, including, but not limited
to, collecting and paying to the holders of recovery bonds, or their
representatives, or the applicable financing entity revenues arising
with respect to the recovery property sold to the applicable
financing entity or pledged to secure recovery bonds. Any successor
to the recovery corporation is entitled to receive any fixed recovery
tax amounts otherwise payable to the recovery corporation.