Agreement for deferred payment of bill.

1. Except as otherwise provided in subsection 2, if a customer is delinquent in the payment of any bill and requests that the utility accept deferred payment, the utility shall do so if the customer signs a written agreement to pay: (a) At least 40 percent of the delinquent amount of the bill at the time of the agreement; (b) The balance of the bill, in three equal monthly installments, within 90 days after the date of the agreement; and (c) All future bills when due. 2. Unless the utility otherwise agrees, a customer may not make deferred payment pursuant to this section if, during the preceding 12 months: (a) He or she has made another deferred payment pursuant to this section; or (b) His or her service has been terminated for nonpayment of a delinquent bill or any installment due on such a bill.