Sec. 15-20. Grain quantity and grain quality violations.
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/il/chapter-240/act-40/15-20A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 15-20. Grain quantity and grain quality violations.
(a)Grain quantity deficiencies of more than $1,000 but less than $20,000.
(1)If a licensee fails to have a sufficient quantity of grain in store to meet
outstanding storage obligations and the value of the grain quantity deficiency as determined by the formula set forth in subsection
(c)of Section 15-20 is more than $1,000 but less than $20,000, the licensee must:
(A)post collateral with the Department in an amount equal to the value of the grain
quantity deficiency or $2,500, whichever is greater; and
(B)pay a penalty of $250.
(2)If a licensee commits 2 violations as set forth in item (a)(1) of Section 15-20
within a 2 year period, the licensee must:
(A)post collateral with the Department in an amount equal to the value of the grain
quantity deficiency or $10,000, whichever is greater; and
(B)pay a penalty of $750.
(3)If a licensee commits 3 or more violations as set forth in item (a)(1) of Section
15-20 within a 5 year period, the licensee must:
(A)post collateral with the Department in an amount equal to the value of the grain
quantity deficiency or $20,000, whichever is greater; and
(B)pay a penalty of no less than $2,000 and no greater than $20,000.
(b)Grain quantity deficiencies of $20,000 or more.
(1)If a licensee fails to have sufficient quantity of grain in store to meet
outstanding storage obligations and the value of the grain quantity deficiency as determined by the formula set forth in subsection
(c)of Section 15-20 equals or exceeds $20,000, the licensee must:
(A)post collateral with the Department in an amount equal to twice the value of the
grain quantity deficiency; and
(B)pay a penalty of $500.
(2)If a licensee commits 2 violations as set forth in item (b)(1) of Section 15-20
within a 2 year period, the licensee must:
(A)post collateral with the Department in an amount equal to twice the value of the
grain quantity deficiency or $20,000, whichever is greater; and
(B)pay a penalty of no less than $750 and no greater than $15,000.
(3)If a licensee commits 3 or more violations as set forth in item (b)(1) of Section
15-20 within a 5 year period, the licensee must:
(A)post collateral with the Department in an amount equal to twice the value of the
grain quantity deficiency or $40,000, whichever is greater; and
(B)pay a penalty of no less than $2,000 and no greater than $20,000.
(c)To determine the value of the grain quantity deficiency for the purposes of this Section, the rate shall be $1 per bushel for soybeans and 50 cents per bushel for all other grains.
(d)If a licensee fails to have sufficient quality of grain in store to meet outstanding storage obligations when the value of the grain quality deficiency exceeds $1,000, the licensee must post collateral with the Department in an amount equal to the value of the grain quality deficiency. For the purposes of this Section, the value of the grain quality deficiency shall be determined by applying prevailing market discount factors to all grain quality factors.