§ 23.113. Interest on overcharge claims.
(a) In the settlement of an overcharge claim, that is, the refund of the amount collected in excess of the legally published rate, and, in the Reparation Docket, of the reasonable rate as therein determined, the claimant is entitled to interest upon the amount refunded at the rate of 6.0% per annum from the date of the improper collection.
(b) The Commission does not regard it unlawful for a claimant to accept in satisfaction of his claim the ascertained amount of an overcharge without interest, the Commission is of the opinion that if such refund is made within 30 days after the improper collection of the overcharge, it may be regarded, in accordance with well-established usage, as a cash transaction, upon which interest does not accrue.
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