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(240 ILCS 40/15-20)
Sec. 15-20.
Grain quantity and grain quality violations.
(a) Grain quantity deficiencies of more than $1,000 but less
than $20,000.
(1) If a licensee fails to have a sufficient quantity |
| of grain in store to meet outstanding storage obligations and the value of the grain quantity deficiency as determined by the formula set forth in subsection (c) of Section 15-20 is more than $1,000 but less than $20,000, the licensee must:
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|
(A) post collateral with the Department in an
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| amount equal to the value of the grain quantity deficiency or $2,500, whichever is greater; and
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(B) pay a penalty of $250.
(2) If a licensee commits 2 violations as set forth
|
| in item (a)(1) of Section 15-20 within a 2 year period, the licensee must:
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(A) post collateral with the Department in an
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| amount equal to the value of the grain quantity deficiency or $10,000, whichever is greater; and
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(B) pay a penalty of $750.
(3) If a licensee commits 3 or more violations as set
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| forth in item (a)(1) of Section 15-20 within a 5 year period, the licensee must:
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(A) post collateral with the Department in an
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| amount equal to the value of the grain quantity deficiency or $20,000, whichever is greater; and
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(B) pay a penalty of no less than $2,000 and no
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(b) Grain quantity deficiencies of $20,000 or more.
(1) If a licensee fails to have sufficient quantity
|
| of grain in store to meet outstanding storage obligations and the value of the grain quantity deficiency as determined by the formula set forth in subsection (c) of Section 15-20 equals or exceeds $20,000, the licensee must:
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(A) post collateral with the Department in an
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| amount equal to twice the value of the grain quantity deficiency; and
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(B) pay a penalty of $500.
(2) If a licensee commits 2 violations as set forth
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| in item (b)(1) of Section 15-20 within a 2 year period, the licensee must:
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|
(A) post collateral with the Department in an
|
| amount equal to twice the value of the grain quantity deficiency or $20,000, whichever is greater; and
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|
(B) pay a penalty of no less than $750 and no
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|
(3) If a licensee commits 3 or more violations as set
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| forth in item (b)(1) of Section 15-20 within a 5 year period, the licensee must:
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(A) post collateral with the Department in an
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| amount equal to twice the value of the grain quantity deficiency or $40,000, whichever is greater; and
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(B) pay a penalty of no less than $2,000 and no
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(c) To determine the value of the grain quantity deficiency
for the purposes of this Section, the rate shall be $1 per bushel
for soybeans and 50 cents per bushel for all other grains.
(d) If a licensee fails to have sufficient quality of grain in store to meet
outstanding storage obligations when the value of the grain quality deficiency
exceeds
$1,000, the licensee must post collateral with the
Department in an amount equal to the value of the grain quality
deficiency. For the purposes of this Section, the value of the
grain quality deficiency shall be determined by applying prevailing
market discount factors to all grain quality factors.
(Source: P.A. 93-225, eff. 7-21-03.)
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