Ill. Admin. Code tit. 80, § 2210.720 – Funds Outside the State Treasury | Midpage
§ 2210.720
Ill. Admin. Code tit. 80, § 2210.720
Funds Outside the State Treasury
AUTHORITY: Implementing and authorized by the State Employees Group Insurance Act of 1971 [5 ILCS 375].DEPARTMENT OF CENTRAL MANAGEMENT SERVICES
a) Pursuant to Section 13.1(b) of the Act, the Agency may establish funds or separate accounts to be held by the Director outside the State treasury. Such funds or accounts may be utilized for the purpose of receiving the transfer of moneys from HIRF.
b) Interest earned on funds or accounts established pursuant to the Act and this Part shall inure to HIRF.
c) Moneys transferred to any funds or accounts shall be used exclusively for transfers to Plan Administrators of self-insured plans or their financial institutions for payments of claims to claimants and health care providers.