(240 ILCS 40/Art. 5 heading)
(240 ILCS 40/5-5)
Sec. 5-5.
Licenses required; applications;
exemptions.
(a) Except as provided in subsection (e), a person may not engage in
the business of buying grain from producers, or storing grain for
compensation, in the State
of Illinois without a license issued by the Department, or in the case of a
federal warehouseman, by the United States government.
(b) An application for a license shall be filed with the
Department, shall be in a form prescribed by the Department, and
shall set forth the name of the applicant, the directors and
officers if the applicant is a corporation, the partners if the
applicant is a partnership, the members of the governing body and
all persons with management or supervisory authority if the
applicant is an entity other than a corporation or partnership, the
location of the principal office or place of business of the
applicant, the location of the principal office or place of business of the
applicant in Illinois, and the location or locations in Illinois at
which the applicant
proposes to engage in business as a licensee, the fiscal year of
the applicant, the kind of grain that the applicant proposes to
buy, handle, or store, the type of business that the applicant
proposes to conduct, and additional information that the
Department may require by rule.
(c) The application for a warehouseman shall state whether
the applicant proposes to store grain only for others or for the
applicant and for others and shall also state the storage capacity
for which the applicant desires to be licensed.
(d) If an applicant has been engaged in
business as a grain dealer for one year or more, the application
shall state the aggregate dollar amount paid to producers for grain
during the applicant's last completed fiscal year. If
the applicant has been engaged in business for less than one year
or has not engaged in the business of buying grain from producers, the application
shall state the estimated aggregate dollar amount to be paid by the
applicant to producers for grain purchased from producers during
the applicant's first fiscal year.
(e) The following persons are exempt from being licensed as
a grain dealer or incidental grain dealer:
(Source: P.A. 93-225, eff. 7-21-03.)
(240 ILCS 40/5-10)
Sec. 5-10.
Financial statement and fee requirements to
obtain or amend a license.
(a) Applications for a new license to operate as a Class
I warehouseman or grain dealer shall be accompanied by each of the following:
(b) Applications for a new license to operate as a Class
II warehouseman or incidental grain dealer shall be accompanied by:
(c) Applications to amend a warehouseman's licensed storage
capacity, including applications in reference to temporary storage
and emergency storage or to otherwise amend a license, shall be accompanied by
a filing fee of $100, $50 of which shall be deposited into the General
Revenue Fund and the balance of which shall be deposited into the Regulatory
Fund.
(Source: P.A. 93-225, eff. 7-21-03.)
(240 ILCS 40/5-15)
Sec. 5-15.
Renewal of license.
(a) The application for renewal of a license shall be filed
with the Department annually within 90 days after the
licensee's fiscal year end. The Department may, upon request
of the licensee, payment of an extension fee of $100, $50 of
which shall be deposited into the General Revenue Fund and the balance of which
shall be deposited into the Regulatory Fund, and delivery
to the Department of a preliminary financial statement compiled by an
independent certified public accountant licensed under
Illinois law or an entity permitted to engage in the practice of public
accounting under item (b)(3) of Section 14 of the Illinois Public Accounting
Act
or, in the case of a Class II warehouseman or incidental grain dealer, a
preliminary financial statement reviewed by an independent accountant
that meets the financial requirements of subsection (b) of Section 5-25,
extend, for up to but not exceeding 30
days, the period of time during which the application for renewal
of a license may be filed. The Department, however, may provide by rule for
reducing the filing period for an application for renewal of a license to no
less than 60 days after the licensee's fiscal year end if the Department
determines that an applicant has financial deficiencies, or there are other
factors, that would create a substantial risk of failure.
The Department must give written notice of the reduced filing period to the
licensee at least 60 days before the earlier deadline imposed by the Department
to file the application for renewal of a license. Notice is deemed given when
mailed by certified mail, return receipt requested, properly addressed and with
sufficient postage attached.
(b) The application for renewal shall be accompanied by the
financial statement required by Section 5-20.
(c) Failure to meet all of the conditions to renew the
license may result in a denial of renewal of the license. The licensee may
request an administrative hearing to dispute the denial of renewal, after which
the Director shall enter an order either renewing or refusing to renew the
license.
(Source: P.A. 93-225, eff. 7-21-03.)
(240 ILCS 40/5-20)
Sec. 5-20.
Financial statement and fee requirements for
the renewal of a license.
(a) Applications for a renewal of a license to operate as
a Class I warehouseman or grain dealer shall be accompanied by each of the
following:
(b) Applications for a renewal of a license to operate as
a Class II warehouseman or incidental grain dealer shall be
accompanied by each of the following:
(Source: P.A. 93-225, eff. 7-21-03.)
(240 ILCS 40/5-25)
Sec. 5-25.
Licensing standards and requirements.
The
Department shall issue, amend, or renew a license if the Department
is satisfied that the applicant or licensee meets the standards and
requirements of this Section. The standards and
requirements of subsections (a) and (b) of this
Section
must be observed and complied with at all times during the term of
the license.
(a) General requirements.
(b) Financial requirements.
(Source: P.A. 93-225, eff. 7-21-03.)
(240 ILCS 40/5-30)
Sec. 5-30. Grain Insurance Fund assessments. The Illinois Grain Insurance
Fund is established as a continuation of the fund
created under the Illinois Grain Insurance Act, now repealed.
Licensees, applicants for a new license, first sellers of grain to grain
dealers
at Illinois locations, and lenders to licensees shall pay assessments as set
forth in this Section.
(a) Subject to subsection (e) of this Section, a
licensee that is newly licensed after the effective date of this
Code shall pay an assessment into the Fund for 3
consecutive years. These assessments are known as "newly licensed
assessments". Except as provided in item (6) of subsection (b) of this
Section, the first installment shall be paid at the time of
or before the
issuance of a new license, the second installment shall be
paid on
or before the first anniversary date of the issuance of the new
license, and the third installment shall be paid on or
before the
second anniversary date of the issuance of the new license. For a grain
dealer, the payment of each of the 3 installments shall be based upon
the total estimated value of grain purchases by the grain dealer for the
applicable year with the final installment amount determined
as set forth in
item (6) of subsection (b) of this Section. After the
licensee has paid or was required to pay the last 3 installments of the
newly licensed assessments, the
licensee shall be subject to subsequent assessments as set forth in
subsection (d) of this Section.
(b) Grain dealer newly licensed assessments.
(c) Warehouseman newly licensed assessments.
(d) Grain dealer subsequent assessments; warehouseman
subsequent assessments.
(e) Newly licensed; exemptions.
(f) Grain seller initial assessments and regular assessments. Assessments
under this subsection (f) apply only to the first sale of grain to a grain
dealer at an Illinois location.
(g) Lender assessments.
(h) Equity in the Fund shall exclude moneys owing to the State or the
Reserve Fund as a result of transfers to the Fund from the General Revenue Fund
or the Reserve Fund under subsection (h) of Section 25-20. Notwithstanding the
foregoing, for purposes of calculating equity in the Fund during the grain
seller initial assessment period and assessing grain sellers, it shall be
presumed that the State is owed, prior to repayment, only
$2,000,000 and the Reserve Fund contains a balance of $2,000,000. Under no
circumstances, however, shall there be more than 2 consecutive grain seller
assessments during the initial assessment period, unless there is a failure
that reduces the equity in the Fund to below $3,000,000.
(i) Notwithstanding the provisions of subsections (d)(4), (f)(3), and (g)(4) of this Section or any other law to the contrary, until the equity in the Fund reaches a level of $6,000,000 for the first time, assessment periods shall continue without interruption, subject to the termination of assessments on grain sellers provided in subsections (f)(2) and (h) of this Section.
(Source: P.A. 93-225, eff. 7-21-03; 93-1097, eff. 3-31-05.)
(240 ILCS 40/5-35)
Sec. 5-35.
Termination of license.
(a) Revocation of a license by the Department
constitutes a termination of the license on the earlier of:
(b) Voluntary surrender of a license by a licensee
constitutes a termination of the license on the day the
surrender occurs.
(c) Failure to apply for a license renewal constitutes
a termination of the license on the day the license expires.
(d) Denial of a license renewal by the Department
constitutes a termination of the license on the day of the order denying the
license renewal.
(Source: P.A. 89-287, eff. 1-1-96.)