The statement shall correspond with the published offer of premiums,
and shall be accompanied by an itemized list of all premiums paid upon
the basis of the premiums provided, a copy of the published premium list
of the fair, and a full statement of receipts and expenditures for the
current year that has been duly verified by the president and secretary
of the fair.
The Department may within the period not to exceed 30 days after a
fair has filed its claim pay 75% of the fair's authorized base amount if
the claim for premiums filed is equal to or exceeds such fair's
authorized base for that year. If the claim filed is less than the
fair's authorized base, the Department shall only pay 75% of the amount
of the claim filed. Should the amount paid a fair exceed the amount
authorized after the final audit of such claim, then the fair shall
within 30 days after notice by the Department pay to the Department the
difference between the amount received and the amount as approved for such
fair in the final audit as long as funds are available.
(Source: P.A. 94-261, eff. 1-1-06.)
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