Full Text of HB1799 96th General Assembly
HB1799 96TH GENERAL ASSEMBLY
|
|
|
|
96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB1799
Introduced 2/18/2009, by Rep. Michael J. Madigan - Barbara Flynn Currie - Daniel J. Burke SYNOPSIS AS INTRODUCED:
|
|
|
|
Amends the Grain Code. Makes a technical change in a Section concerning
the refusal of a licensee to allow liquidation.
|
| |
|
|
|
|
A BILL FOR
|
|
|
|
|
HB1799 |
|
LRB096 05469 RCE 15535 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 |
| 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 |
|
|
|
HB1799 |
- 2 - |
LRB096 05469 RCE 15535 b |
|
| | 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.)
|
|
Translate
