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92_HB4290
LRB9214055LDtm
1 AN ACT in relation to grain.
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 30-20 as follows:
6 (240 ILCS 40/30-20)
7 Sec. 30-20. Recovery of funds. Amounts paid from the
8 Fund to satisfy in satisfaction of a valid claim constitute a
9 debt and obligation of the licensee against whom the claim
10 was made. On behalf of the Fund, the Director may bring
11 suit, file a claim, or intervene in any legal proceeding to
12 recover from a failed licensee, or upon any collateral and
13 guarantees relating to the failed licensee, the amount of the
14 payment made from the Fund together with interest at 6% per
15 annum and all expenses, costs, and attorneys' fees incurred
16 by the Department in its efforts to recover assets for the
17 Fund in reference to the failed licensee.
18 (Source: P.A. 89-287, eff. 1-1-96.)