Section 728.065. Interest on recovered monies.

Latest version.

(1) The department shall assess and collect interest on the unpaid balance of monies recovered by the department, when payments are made over time.

(2) The interest rate shall be established at the time of the settlement, and may not be changed during the repayment period. The interest rate shall be based on the amount of the unpaid balance of the monies owed, at the rate specified in s. 71.82 (1) (a) , Stats., compounded monthly.

(3) Interest is to be paid to the department on a monthly basis.

CR 12-023 : cr. Register October 2013 No. 694 eff. 11-1-13.

Note

Sections 292.11 and 292.31 , Stats., require the department to assess interest on the unpaid balance of monies required to be reimbursed to the department, when these monies are to be paid over time. Microsoft Windows NT 6.1.7601 Service Pack 1

                    
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