§900.40. Statement Indicating That Interest Penalty May Be Available

Latest version.

a) The remittance advice of each commercial payment must contain the following statement or words of similar meaning:

"Payment of interest may be available if the State fails to comply with the State Prompt Payment Act [30 ILCS 540]."

b) In the case of electronic payments, the statement may be transmitted electronically or otherwise reflected within the information authorizing electronic payments.

(Source: Amended at 26 Ill. Reg. 14666, effective September 19, 2002)

                    
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