093_HB1458eng

 
HB1458 Engrossed                     LRB093 03693 RCE 07393 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.   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.)