97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0767

 

Introduced 2/8/2011, by Sen. John J. Cullerton

 

SYNOPSIS AS INTRODUCED:
 
240 ILCS 40/20-25

    Amends the Grain Code. Makes a technical change in a Section concerning the refusal of a licensee to allow liquidation.


LRB097 04488 ASK 44527 b

 

 

A BILL FOR

 

SB0767LRB097 04488 ASK 44527 b

1    AN ACT concerning warehouses.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Grain Code is amended by changing Section
520-25 as follows:
 
6    (240 ILCS 40/20-25)
7    Sec. 20-25. Refusal of licensee to allow liquidation.
8    (a) If, after a failure, the the failed licensee does not
9transfer control of the grain assets to the Trustee, the
10Director may, in conjunction with the authority granted in this
11Code and in Section 205-410 of the Department of Agriculture
12Law (20 ILCS 205/205-410), file a complaint and apply to a
13court of competent jurisdiction for a temporary restraining
14order, a preliminary injunction, or a permanent injunction to
15be entered without bond to carry out the provisions of this
16Code.
17    (b) If a party seeks relief from a court of competent
18jurisdiction that would enjoin, restrain, stay, or otherwise
19resist either (1) an administrative order of the Department
20that suspends, revokes, or denies renewal of a license under
21this Code or (2) an action brought by the Department relating
22to liquidation of a licensee, the court shall require the party
23requesting the relief to provide a bond as provided for in the

 

 

SB0767- 2 -LRB097 04488 ASK 44527 b

1Code of Civil Procedure. The bond shall be in an amount
2adequate to assure that all producers and depositors will be
3paid while the licensee is operating following suspension,
4revocation, or denial of renewal of a license under the
5judicial relief for grain sold to or stored with the licensee.
6The bond shall be in a minimum amount sufficient to satisfy all
7existing grain obligations of the licensee for grain purchased,
8sold, or stored. In setting the amount of the bond, the court
9shall consider increasing the amount of the bond based upon a
10consideration of other factors, including, but not limited to,
11the total dollar amount of grain purchased annually by the
12licensee and the value of the storage obligations of the
13licensee.
14(Source: P.A. 91-239, eff. 1-1-00.)