(240 ILCS 40/1515)
Sec. 1515.
Violations of open position limits.
(a) Violations of maximum allowable open position limits by
more than 1,000 bushels but less than twice the maximum allowable
open position limits.
(1) If a licensee violates the maximum allowable open 
 position limits of item (a)(2) of Section 1010 and the open position is more than 1,000 bushels but less than twice the maximum allowable open position limits, the licensee shall be required to:


(A) Post collateral with the Department in an

 amount equal to $1 per bushel for each bushel of soybeans in excess of the maximum allowable open position limits and 50 cents per bushel of each bushel for all other grain in excess of the maximum allowable open position limits or $2,500, whichever is greater; and


(B) Pay a penalty in an amount not to exceed


(2) If a licensee commits 2 violations as set forth

 in item (a) (1) of Section 1510 within a 2 year period, the licensee must:


(A) post collateral with the Department in an

 amount equal to $1 per bushel for each bushel of soybeans in excess of the maximum allowable open position limits and 50 cents per bushel of each bushel for all other grain in excess of the maximum allowable open position limits or $5,000, whichever is greater; and


(B) pay a penalty in the amount of $750.
(3) If a licensee commits 3 or more violations as set

 forth in item (a)(1) of Section 1510 within a 5 year period, the licensee must:


(A) post collateral with the Department in an

 amount equal to $2 per bushel for each bushel of soybeans in excess of the maximum allowable open position limits and $1 per bushel of each bushel for all other grain in excess of the maximum allowable open position limits or $10,000, whichever is greater; and


(B) pay a penalty in an amount greater than

 $2,000 but less than $20,000.


(b) Violations of maximum allowable open position limits
that equal or exceed twice the maximum allowable open position.
(1) If a licensee violates the maximum allowable open

 position limits of item (a)(2) of Section 1010 and the open position equals or exceeds twice the maximum allowable open position limits, the licensee must:


(A) post collateral with the Department in an

 amount equal to $1 per bushel for each bushel of soybeans in excess of the maximum allowable open position and 50 cents per bushel for each bushel of all other grain in excess of the maximum allowable open position limits or $5,000, whichever is greater; and


(B) pay a penalty in the amount of $500.00.
(2) If a licensee commits 2 violations as set forth

 in item (b)(1) of Section 1510 within a 2 year period, the licensee must:


(A) post collateral with the Department in an

 amount equal to $2 per bushel for each bushel of soybeans in excess of the maximum allowable open position limits and $1 per bushel for each bushel of all other grain in excess of the maximum allowable open position limits or $10,000, whichever is greater; and


(B) pay a penalty in an amount greater than $750


(3) If a licensee commits 3 or more violations as set

 forth in item (b)(1) of Section 155 within a 5 year period, the licensee must:


(A) post collateral with the Department in an

 amount equal to $2 per bushel for each bushel of soybeans in excess of the maximum allowable open position limits and $1 per bushel for each bushel for all other grain in excess of the maximum allowable open position limits or $10,000, whichever is greater; and


(B) pay a penalty in an amount greater than

 $2,000 but less than $20,000.


(Source: P.A. 93225, eff. 72103.)
