Section 0720-40-.05 - PENALTY AND INTEREST(1) If any part of any fee imposed under this rule is not paid on or before the due date, a penalty of five percent (5%) of the amount due shall at once accrue and be added thereto. Thereafter, on the first day of each month during which any part of any fee or any prior accrued penalty remains unpaid, an additional five percent (5%) of the then unpaid balance shall accrue and be added thereto. In addition, license fees not paid on the due date shall accrue interest at the maximum lawful rate for the entire month in which any delinquent payment, penalty or interest is still due or not paid. Any penalty or interest that accrues pursuant to this rule shall be credited to the indigent health care risk fund.Tenn. Comp. R. & Regs. 0720-40-.05
Original rule filed March 30, 1990, effective May 14, 1990. Amendment filed September 25, 1991, effective November 9, 1991. Transferred from chapter 1200-24-01 pursuant to Public Chapter 1119 of 2022 effective 7/1/2022.Authority: T.C.A. §§ 4-5-202 and 68-11-216(d) and Public Chapter 434, Acts of 1989.