093_HB0665eng

 
HB0665 Engrossed                     LRB093 05349 JAM 05439 b

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