State of Illinois
92nd General Assembly

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 1        AN ACT concerning 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    1-5 as follows:

 6        (240 ILCS 40/1-5)
 7        Sec. 1-5.   Purpose.   The  Illinois  grain  industry  in
 8    Illinois  comprises  a  significant  and  vital  part  of the
 9    State's economy.   The grain industry  can  function  to  its
10    fullest    competitive   and   profitable   potential,   thus
11    contributing to the economic health of this  State,  when  it
12    operates  under  a coordinated and integrated structure.  The
13    purpose of this  Code  is  to  provide  a  single  system  of
14    governmental  regulation  of the Illinois grain industry.  It
15    is also the purpose of  this  Code  to  promote  the  State's
16    welfare  by  improving  the economic stability of agriculture
17    through the existence of the Illinois Grain Insurance Fund in
18    order to protect producers in the event of the failure  of  a
19    licensed  grain dealer or licensed warehouseman and to ensure
20    the existence of an adequate resource so that persons holding
21    valid claims may be compensated for losses occasioned by  the
22    failure of a licensed grain dealer or licensed warehouseman.
23    (Source: P.A. 89-287, eff. 1-1-96.)

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