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
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