Full Text of SB0504 100th General Assembly
SB0504 100TH GENERAL ASSEMBLY
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| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
SB0504 Introduced 1/24/2017, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
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Amends the Grain Code. Makes a technical change in a Section concerning
the refusal of a licensee to allow liquidation.
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| | A BILL FOR |
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| | | SB0504 | | LRB100 05220 RPS 15230 b |
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| | 1 | | AN ACT concerning warehouses.
| | 2 | | Be it enacted by the People of the State of Illinois, | | 3 | | represented in the General Assembly:
| | 4 | | Section 5. The Grain Code is amended by changing Section | | 5 | | 20-25 as follows:
| | 6 | | (240 ILCS 40/20-25)
| | 7 | | Sec. 20-25. Refusal of licensee to allow liquidation.
| | 8 | | (a) If, after a failure, the
the failed licensee does not
| | 9 | | transfer control of the grain assets to the Trustee, the | | 10 | | Director
may, in conjunction with the authority granted in this | | 11 | | Code and in
Section 205-410 of the Department of Agriculture | | 12 | | Law (20 ILCS
205/205-410), file a
complaint and apply to a | | 13 | | court of competent jurisdiction for a
temporary restraining | | 14 | | order, a preliminary injunction, or a
permanent injunction to | | 15 | | be entered without bond to carry out the
provisions of this | | 16 | | Code. | | 17 | | (b) If a party seeks relief from a court of competent
| | 18 | | jurisdiction that would enjoin, restrain, stay, or otherwise
| | 19 | | resist either (1) an administrative order of the Department | | 20 | | that suspends,
revokes, or denies renewal of a license under | | 21 | | this Code or
(2) an action brought by the Department relating | | 22 | | to
liquidation of a licensee, the court shall require the party
| | 23 | | requesting the relief to provide a bond as provided for in
the |
| | | SB0504 | - 2 - | LRB100 05220 RPS 15230 b |
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| | 1 | | Code of Civil Procedure. The bond shall be in an amount
| | 2 | | adequate to assure that all producers and depositors will be
| | 3 | | paid while the licensee is operating following suspension,
| | 4 | | revocation, or denial of renewal of a license under the | | 5 | | judicial relief for
grain sold to or stored with the licensee. | | 6 | | The bond shall be in a
minimum amount sufficient to satisfy all | | 7 | | existing grain
obligations of the licensee for grain purchased, | | 8 | | sold, or
stored. In setting the amount of the bond, the court | | 9 | | shall
consider increasing the amount of the bond based upon a
| | 10 | | consideration of other factors, including, but not limited to,
| | 11 | | the total dollar amount of grain purchased annually by the
| | 12 | | licensee and the value of the storage obligations of the
| | 13 | | licensee.
| | 14 | | (Source: P.A. 91-239, eff. 1-1-00.)
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