Ill. Admin. Code tit. 74, § 760.930 – Determination of Liability | Midpage
§ 760.930
Ill. Admin. Code tit. 74, § 760.930
Determination of Liability
AUTHORITY: Implementing and authorized by the Revised Uniform Unclaimed Property Act [765 ILCS 1026].TREASURER
a) If the administrator determines from an examination conducted under Section 15-1002of the Actthat a putative holder failed or refused to pay or deliver to the administrator property that is reportable under the Act, the administrator shall issue a determination of the putative holder's liability to pay or deliver and give notice in a record to the putative holder of the determination. [765 ILCS 1026/15-1011]
b) The administrator may give notice of any interest and civil penalties at the same time that notice of a determination of liability is given.