Section 140.27. Late claims.

  If any funds remain in a separate bond or credit account established under s. Trans 140.25 (2) , or available under the remaining liability of the surety or financial institution after payment of all timely and allowed claims, the department may accept late claims for determination. After determining all claims received prior to the third anniversary of the end of the period covered by the bond or letter of credit, and after appropriate payment to each claimant has been made, any remaining funds held by the department from the particular bond or letter of credit, excluding interest earned, shall be refunded to the surety or financial institution.

History: Emerg. cr. eff. 10-16-85; cr. Register, July, 1986, No. 367 , eff. 8-1-86; am. Register, February, 1996, No. 482 , eff. 3-1-96.