Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as
Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(505 ILCS 130/3) (from Ch. 5, par. 553)
Sec. 3. For the purpose of this Act, unless the context clearly requires
otherwise:
(a) "Soybean" means and includes all kinds and varieties of soybeans
grown in this State and marketed and sold as soybeans by the producer.
(b) "Person" means any natural person, partnership, corporation,
society, association, representative or other fiduciary.
(c) "Producer" means any person engaged in this State in the business of
producing and marketing soybeans, unless otherwise defined in marketing
program.
(d) "First purchaser" means any person who resells soybeans purchased
from a producer or offers for sale any product produced from such soybeans
for any purpose.
(e) "Market Development" means to engage in research and educational
programs directed toward better and more efficient utilization of soybeans;
to provide methods and means for the maintenance of present markets; for
the development of new and larger domestic and foreign markets.
(f) "Marketing program" means any program established under this Act
which prescribes procedures for the development of
markets for soybeans and soybean products.
(g) "Program operating board" means the board established by any
marketing program to administer such programs.
(h) "Director" means the Director of the Department of Agriculture of
the State of Illinois.
(i) "Department" means the Department of Agriculture of the State of
Illinois.
(j) "Bushel" means 60 pounds of soybeans by weight.
(k) "Net market price" means: (1) except as provided in item (2), the sales price |
| or other value received by a producer for soybeans after adjustments for any premium or discount based on grading or quality factors; or
|
|
(2) for soybeans pledged as collateral for a loan
|
| issued under any price support loan program administered by the Commodity Credit Corporation, the principal amount of the loan.
|
|
(Source: P.A. 95-953, eff. 1-1-09.)
|
