Ill. Admin. Code tit. 92 § 554.903

Current through Register Vol. 48, No. 50, December 13, 2024

Section 554.903 - Bonded Charge Accounts

An applicant may establish a Bonded Charge Account or Escrow Account with the Permit Office in lieu of paying for each permit before it is issued. Application forms may be obtained from the Permit Office for establishing either type of account.

a) The following conditions govern the establishment and maintenance of Bonded Charge Accounts.

1) Application Form OPER 1932 must be completed in duplicate and submitted to the Permit Office.

2) A surety bond, Form OPER 1931 and a power of attorney for surety must accompany this application. The bonding agency must execute the bond in the minimum amount of $1000 or in increments of $1000 to an amount equal to at least twice the applicant's anticipated monthly charge.

3) Upon approval of the account, the applicant will be given a confidential number that must be given with each permit application. The applicant is responsible for all charges filed against the account.

4) The Permit Office will furnish billing statements every 30 days, providing there has been activity against the account, that will show charges, payments, adjustments and the amount due. Payment in full is due within two weeks following the billing date. Any bills not paid within 30 calendar days from the date of the statement will result in the withholding of permits to the account holder until the delinquent amount is paid.

5) The Permit Office may execute the surety bond to collect any unpaid balance. Reinstatement of credit and issuance of permits will be withheld until payment in full is received and a new bond is provided.

6) Upon request, the Permit Office will notify the account holder when the total amount due reaches an agreed warning limit.

b) The following conditions apply to Escrow Accounts.

1) Application Form OPER 1932 must be completed in duplicate and submitted to the Permit Office.

2) Deposits must be made in multiples of $100.

3) Upon approval of the account, the applicant will be given a confidential number that must be given with each application. The applicant is responsible for all charges filed against the account.

4) The Permit Office will furnish monthly statements, providing there has been activity against the account that will show charges, deposits, adjustments, and the current prepaid amount remaining.

5) The account holder may replenish his or her funds at any time.

6) An escrow (prepaid) account will remain open as long as there is a positive balance. The balance will be reduced by the fee amount for each permit issued.

7) Upon request, the Permit Office will notify the account holder when the prepaid amount is reduced to an agreed warning limit.

8) An escrow account may be closed at any time and the unused balance processed for a refund. Closing of the account and requests for refunds must be in writing.

Ill. Admin. Code tit. 92, § 554.903

Amended at 36 Ill. Reg. 13254, effective August 1, 2012