Bill Text: IL SB0777 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Grain Code. Makes a technical change in a Section concerning the refusal of a licensee to allow liquidation.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2021-01-13 - Session Sine Die [SB0777 Detail]
Download: Illinois-2019-SB0777-Introduced.html
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1 | AN ACT concerning warehouses.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Grain Code is amended by changing Section | |||||||||||||||||||
5 | 20-25 as follows:
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6 | (240 ILCS 40/20-25)
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7 | Sec. 20-25. Refusal of licensee to allow liquidation.
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8 | (a) If, after a failure, the
the failed licensee does not
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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
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18 | jurisdiction that would enjoin, restrain, stay, or otherwise
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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
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23 | requesting the relief to provide a bond as provided for in
the |
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1 | Code of Civil Procedure. The bond shall be in an amount
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2 | adequate to assure that all producers and depositors will be
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3 | paid while the licensee is operating following suspension,
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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
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10 | consideration of other factors, including, but not limited to,
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11 | the total dollar amount of grain purchased annually by the
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12 | licensee and the value of the storage obligations of the
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13 | licensee.
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14 | (Source: P.A. 91-239, eff. 1-1-00.)
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