Article 85 – Prior Law
(240 ILCS 40/Art. 85 heading) ARTICLE 85. PRIOR LAW (240 ILCS 40/85-5) Sec. 85-5. Prior law. (a) A provision of this Code that is the same as a prior law shall be construed as a continuation of the prior law and not as a new or different law. (b) A citation in another Act […]
Article 90 – Severability
(240 ILCS 40/Art. 90 heading) ARTICLE 90. SEVERABILITY (240 ILCS 40/90-5) Sec. 90-5. Severability. The provisions of this Code are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 89-287, eff. 1-1-96.)
Article 95 – Amendatory Provisions And Repealers
(240 ILCS 40/Art. 95 heading) ARTICLE 95. AMENDATORY PROVISIONS AND REPEALERS (240 ILCS 40/95-5) Sec. 95-5. (Amendatory provisions; text omitted). (Source: P.A. 89-287, eff. 1-1-96; text omitted.) (240 ILCS 40/95-10) Sec. 95-10. (Amendatory provisions; text omitted). (Source: P.A. 89-287, eff. 1-1-96; text omitted.) (240 ILCS 40/95-15) Sec. 95-15. (Amendatory provisions; text omitted). […]
Article 10 – Duties And Requirements Of Licensees
(240 ILCS 40/Art. 10 heading) ARTICLE 10. DUTIES AND REQUIREMENTS OF LICENSEES (240 ILCS 40/10-5) Sec. 10-5. Duties and requirements of licensees. (a) Each licensee shall have adequate property insurance covering grain in its possession or custody and adequate liability, property, theft, hazard, and workers’ compensation insurance. (1) Every insurance policy shall contain a […]
Article 15 – Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License
(240 ILCS 40/Art. 15 heading) ARTICLE 15. VIOLATIONS; FINANCIAL DEFICIENCIES; ADMINISTRATIVE PENALTIES; SUSPENSION AND REVOCATION OF LICENSE. (240 ILCS 40/15-5) Sec. 15-5. Training. Without limitation upon any other action under this Code, if a licensee violates any of the provisions of this Code, the Department may, without need for a hearing, require additional training. […]
Article 20 – Failure; Liquidation
(240 ILCS 40/Art. 20 heading) ARTICLE 20. FAILURE; LIQUIDATION (240 ILCS 40/20-5) Sec. 20-5. Failure. Upon the failure of a licensee, the Director has all powers as Trustee for the benefit of claimants as established under this Code, including, but not limited to, the power to do the following: (a) Seize or otherwise gain […]
Article 25 – Claims Procedures
(240 ILCS 40/Art. 25 heading) ARTICLE 25. CLAIMS PROCEDURES (240 ILCS 40/25-5) Sec. 25-5. Adjudication of claims. When a licensee has experienced a failure, the Department shall process the claims in the following manner: (a) The Department shall publish once each week for 3 successive weeks in at least 3 newspapers of general circulation […]
Article 30 – Illinois Grain Insurance Fund
(240 ILCS 40/Art. 30 heading) ARTICLE 30. ILLINOIS GRAIN INSURANCE FUND (240 ILCS 40/30-5) Sec. 30-5. Illinois Grain Insurance Corporation. (a) The Corporation is a political subdivision, body politic, and public corporation. The governing powers of the Corporation are vested in the Board of Directors composed of the Director, who shall personally serve as […]
Article 35 – Regulatory Fund
(240 ILCS 40/Art. 35 heading) ARTICLE 35. REGULATORY FUND (240 ILCS 40/35-5) Sec. 35-5. Regulatory Fund. (a) The Regulatory Fund is created as a trust fund in the State Treasury. The Regulatory Fund shall receive license, certificate, and extension fees under Sections 5-10, 5-15, and 5-20 and funds under subsection (g) of Section 25-20 […]
240 ILCS 5/ – Safety Deposit License Act.
(240 ILCS 5/0.01) (from Ch. 17, par. 1450) Sec. 0.01. Short title. This Act may be cited as the Safety Deposit License Act. (Source: P.A. 86-1324.) (240 ILCS 5/1) (from Ch. 17, par. 1451) Sec. 1. For the purposes of this Act: “Person” means any individual, firm, corporation, association, trust or other association of […]