Sec. 11. (a) Securitization property consists of the rights and interests of an electric utility, or its successor, under a financing order, including the following:
(1) The right to impose, collect, and receive securitization charges, as authorized under the financing order, in an amount necessary to provide for the full recovery of all qualified costs.
(2) The right under the financing order to obtain periodic adjustments of securitization charges under section 12(c) of this chapter.
(3) All revenue, collections, payments, money, and proceeds arising out of the rights and interests described in this section.
(b) Securitization property constitutes a present property right for purposes of contracts concerning the sale or pledge of property, even if the imposition and collection of securitization charges depend on further acts of the electric utility or others that have not yet occurred. The securitization property continues to exist, and the financing order under which the securitization property arises remains in effect, for the same period as the pledge of the state under section 16(b) of this chapter.
(c) All revenues and collections resulting from securitization charges constitute proceeds of only the securitization property arising from the financing order.