95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB0897


 
Introduced 2/8/2007, by Sen. Martin A. Sandoval - Emil Jones, Jr.
 
SYNOPSIS AS INTRODUCED:
 		













240 ILCS 40/1-25









    Amends the Grain Code.  Makes a technical change in a Section concerning
rules
adopted to implement the Code.
















LRB095 05668 RCE 25758 b

















 


 


A BILL FOR









 











SB0897

LRB095 05668 RCE 25758 b






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
1-25 as follows:
 



6
    (240 ILCS 40/1-25)



7
    Sec. 1-25. Rules. The
The Department may
promulgate rules 
8
that are necessary
for the implementation and administration of 
9
this Code.
10
    The Department shall adopt rules governing electronic 
11
systems under which
electronic warehouse receipts may be issued 
12
and transferred. Licensees shall
not be required, however, to 
13
issue or use electronic warehouse receipts. These
rules shall 
14
be adopted after the United States Department of Agriculture 
15
adopts
regulations concerning an electronic receipt transfer 
16
system pursuant to 7
U.S.C. 242, 250.

17
(Source: P.A. 93-225, eff. 7-21-03.)