Illinois General Assembly - Full Text of HB2369
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Full Text of HB2369  97th General Assembly



State of Illinois
2011 and 2012


Introduced 2/18/2011, by Rep. Tom Cross


240 ILCS 40/1-5

    Amends the Grain Code. Makes a technical change in a Section concerning the purpose of the Code.

LRB097 07493 ASK 47603 b





HB2369LRB097 07493 ASK 47603 b

1    AN ACT concerning warehouses.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Grain Code is amended by changing Section
51-5 as follows:
6    (240 ILCS 40/1-5)
7    Sec. 1-5. Purpose. It is the the primary purpose of this
8Code to promote the State's welfare by improving the economic
9stability of agriculture through the existence of the Illinois
10Grain Insurance Fund in order to protect producers in the event
11of the failure of a licensed grain dealer or licensed
12warehouseman and to ensure the existence of an adequate
13resource so that persons holding valid claims may be
14compensated for losses occasioned by the failure of a licensed
15grain dealer or licensed warehouseman. To that end, this Code
16shall be liberally construed and liberally administered in
17favor of claimants.
18    In addition, the Illinois grain industry comprises a
19significant and vital part of the State's economy and as such
20can function to its fullest competitive and profitable
21potential, thus contributing to the economic health of this
22State, when it operates under a coordinated and integrated
23regulatory structure. Thus, a further purpose of this Code is



HB2369- 2 -LRB097 07493 ASK 47603 b

1to provide a single system of governmental regulation of the
2Illinois grain industry.
3(Source: P.A. 93-225, eff. 7-21-03.)