Sec. 15-1206. Waiver of interest and penalty.
61 words·~1 min read·
/il/chapter-765/act-1026/15-1206A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 15-1206. Waiver of interest and penalty. The administrator:
(1)may waive, in whole or in part, interest under subsection
(a)of Section 15-1204 and
penalties under subsection
(b)of Section 15-1204 or Section 15-1; and
(2)shall waive a penalty under subsection
(b)of Section 15-1204 if the administrator
determines that the holder acted in good faith and without negligence.