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(240 ILCS 40/5-5)
Sec. 5-5.
Licenses required; applications;
exemptions.
(a) Except as provided in subsection (e), a person may not engage in
the business of buying grain from producers, or storing grain for
compensation, in the State
of Illinois without a license issued by the Department, or in the case of a
federal warehouseman, by the United States government.
(b) An application for a license shall be filed with the
Department, shall be in a form prescribed by the Department, and
shall set forth the name of the applicant, the directors and
officers if the applicant is a corporation, the partners if the
applicant is a partnership, the members of the governing body and
all persons with management or supervisory authority if the
applicant is an entity other than a corporation or partnership, the
location of the principal office or place of business of the
applicant, the location of the principal office or place of business of the
applicant in Illinois, and the location or locations in Illinois at
which the applicant
proposes to engage in business as a licensee, the fiscal year of
the applicant, the kind of grain that the applicant proposes to
buy, handle, or store, the type of business that the applicant
proposes to conduct, and additional information that the
Department may require by rule.
(c) The application for a warehouseman shall state whether
the applicant proposes to store grain only for others or for the
applicant and for others and shall also state the storage capacity
for which the applicant desires to be licensed.
(d) If an applicant has been engaged in
business as a grain dealer for one year or more, the application
shall state the aggregate dollar amount paid to producers for grain
during the applicant's last completed fiscal year. If
the applicant has been engaged in business for less than one year
or has not engaged in the business of buying grain from producers, the application
shall state the estimated aggregate dollar amount to be paid by the
applicant to producers for grain purchased from producers during
the applicant's first fiscal year.
(e) The following persons are exempt from being licensed as
a grain dealer or incidental grain dealer:
(1) A person purchasing grain from producers only for |
| resale as agricultural seed.
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|
(2) A producer purchasing grain from producers only
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| for its own use as seed or feed.
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(Source: P.A. 93-225, eff. 7-21-03.)
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