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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6677
Introduced 02/09/04, by Dan Reitz SYNOPSIS AS INTRODUCED:
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Amends the Grain Code. Makes technical changes to the Section concerning
the purpose of the Act.
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A BILL FOR
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HB6677 |
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LRB093 18907 RAS 44642 b |
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| AN ACT concerning grain.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Grain Code is amended by changing
Section |
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| 1-5 as follows:
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| (240 ILCS 40/1-5)
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| Sec. 1-5. Purpose of this Code. It is
the primary purpose |
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| of this Code to promote the State's welfare by
improving the |
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| economic stability of agriculture through the
existence of the |
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| Illinois Grain Insurance Fund in order to protect
producers in |
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| the event of the failure of a licensed grain dealer or
licensed |
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| warehouseman and to ensure the existence of an adequate
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| resource so that persons holding valid claims may be |
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| compensated
for losses occasioned by the failure of a licensed |
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| grain dealer or
licensed warehouseman.
To that end, this Code |
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| shall be liberally construed and liberally
administered in |
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| favor of claimants.
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| In addition, the Illinois grain industry comprises a |
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| significant and vital
part of the State's economy and as such |
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| can function to its fullest competitive
and profitable |
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| potential, thus contributing to the economic health of this
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| State, when it operates under a coordinated and integrated |
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| regulatory
structure. Thus, a further purpose of this Code is |
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| to provide a single system
of governmental regulation of the |
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| Illinois grain industry.
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| (Source: P.A. 93-225, eff. 7-21-03.)
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