Section 155.40  Altering Electronic Fund Transfer Arrangements

a)     A participant wishing to designate a different account for the transfer of funds under this Part shall complete a new authorization form as called for in Section 155.30(a) of this Part and submit it to the State Superintendent of Education at least 30 days before activation of transfers to the new account is desired.

b)     Each change in an account will be confirmed via submission of a pre-note transfer as described in Section 155.30(e) of this Part.

c)     After the State Superintendent receives confirmation of an accurate pre-note fund transfer, all payments to the participant will be made to the newly designated account.

(Source:  Amended at 29 Ill. Reg. 10131, effective June 30, 2005)