Full Text of SB0777 101st General Assembly
SB0777 101ST GENERAL ASSEMBLY |
| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020 SB0777 Introduced 1/31/2019, by Sen. John J. Cullerton 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 |
|
| | | SB0777 | | LRB101 04538 RPS 49546 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 |
| | | SB0777 | - 2 - | LRB101 04538 RPS 49546 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.)
|
|