93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2183

 

Introduced 1/14/2004, by John O. Jones

 

SYNOPSIS AS INTRODUCED:
 
240 ILCS 40/1-5

    Amends the Grain Code. Makes a technical change in the purpose Section.


LRB093 14634 RAS 40147 b

 

 

A BILL FOR

 

SB2183 LRB093 14634 RAS 40147 b

1     AN ACT concerning agriculture.
 
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. It is the primary purpose of this Code
8 to promote the State's welfare by improving the economic
9 stability of agriculture through the existence of the Illinois
10 Grain Insurance Fund in order to protect producers in the event
11 of the failure of a licensed grain dealer or licensed
12 warehouseman and to ensure the existence of an adequate
13 resource so that persons holding valid claims may be
14 compensated for losses occasioned by the failure of a licensed
15 grain dealer or licensed warehouseman. To that end, this Code
16 shall be liberally construed and liberally administered in
17 favor of claimants.
18     In addition, the Illinois grain industry in Illinois
19 comprises a significant and vital part of the State's economy
20 and as such can function to its fullest competitive and
21 profitable potential, thus contributing to the economic health
22 of this State, when it operates under a coordinated and
23 integrated regulatory structure. Thus, a further purpose of
24 this Code is to provide a single system of governmental
25 regulation of the Illinois grain industry.
26 (Source: P.A. 93-225, eff. 7-21-03.)