Synopsis As Introduced Amends the Grain Code. Makes numerous changes, including changes with respect to the following: the purposes of the Code; definitions; examinations of licensees; administrative review; electronic warehouse receipts; bonds; fees and assessments; deposit of funds; criminal history investigations; financial requirements of licensees; price later contracts; fines and criminal penalties; suspension and revocation of licenses; Department of Agriculture expense reimbursement; procedures upon failure of a licensee; designation of administrative law judges; compensation of claimants; and creation of the Regulatory Fund as a trust fund. Effective immediately.
Deletes everything. Reinserts the provisions of the bill as introduced with the following changes: Deletes changes concerning prepayments. Deletes a provision concerning bonds to secure payment to the Department of Agriculture. Makes changes to the definitions of "adjusted current assets" and adjusted equity". Changes the procedures concerning and the amounts of various penalties, fees, and assessments. Instead of setting forth guidelines for certain examinations, provides that the guidelines are to be provided by rule. Makes other changes. Effective immediately.