Tenn. Comp. R. & Regs. 1720-01-14-.05
Each campus or institute business office is responsible for performing due diligence on all credit balances in accounts receivable that have been inactive for at least one (1) year and a maximum of five (5) years and that have a balance of $50 or greater. Detailed information associated with these balances must be maintained at the campus or institute level. Each campus or institute must compile and transmit a file of names, addresses, and social security numbers of dormant account owners, along with amounts to the Controller's Office by October 1 of each year. The list will also include credit balances under $50 for which due diligence is not required. This effort must be coordinated with the Controller's Office. As an alternative, credit balances under $50 and inactive for one (1) year may be reported through the Accounts Receivable Write-Off Request (Form T-35).
Tenn. Comp. R. & Regs. 1720-01-14-.05
Authority: T.C.A. § 49-9-209(e) and Public Acts of Tennessee, 1839-1840, Chapter 98, Section 5, and Public Acts of Tennessee, 1807, Chapter 64.