Ill. Admin. Code tit. 50, § 2500.140 - Transfer of Overpayments

An overpayment may be transferred in whole or in part to another company upon written approval of the Director. The approval may be an adjustment invoice, letter of credit, or signed Notice of Transfer of Overpayment form. The company or person shall provide a written notice to transfer that includes the following information:

a) The name of the company that is transferring the overpayment, including that company's FEIN;

b) The amount of the overpayment being transferred;

c) The name of the company to which the transfer is being made and the company's FEIN;

d) The monetary amount, if any, exchanged between the entities; and

e) A certification of an officer of the company that the provided information is true and accurate to the best of his/her knowledge.

Notes

Ill. Admin. Code tit. 50, § 2500.140

Added at 44 Ill. Reg. 3419, effective 2/24/2020