Section 760.24  Incomplete/Inaccurate Report or Remittance

a)         Any report or remittance submitted to the State Treasurer which is:

1)         incomplete (i.e., reports which do not include vital and pertinent information, appropriate detail, correct format or remittances made out to an improper payee, or account, or security designee); or

2)         inaccurate (i.e., reports that are out of balance and remittances that are less than the property reported or do not include remittable interest, dividends, stock splits or underlying securities)

            shall be returned to the holder for correction.

b)         The holder shall submit a corrected report or remittance to the Treasurer within 20 calendar days after the Treasurer's return of the original report or remittance to the holder.

c)         Failure of the holder to submit a corrected, accurate and complete report or remittance within the time set forth in subsection (b) above shall be sufficient reason to believe and grounds for examination of the holder under section 123 of the Act.

(Source:  Added at 17 Ill. Reg. 123, effective December 21, 1992)