reglab/housing_qa huggingface dataset:
240 ILCS 40/5-15
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 5 - Licensing

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
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 5 - Licensing

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:(1) A financial statement made within 90 days after     the applicant's fiscal year end and prepared in conformity with generally accepted accounting principles following an examination conducted in accordance with generally accepted auditing standards that has attached the unqualified opinion, or a qualified opinion if the qualification, in the sole discretion of the Department, does not unduly diminish the financial stability of the licensee or applicant, of 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.  The financial statement shall consist of a balance sheet, statement of income, statement of retained earnings, statement of cash flows, notes to financial statements, and other information as required by the Department.  The financial statement shall set forth the financial position and results in operations for the most recent fiscal year of the applicant.(2) A fee of $200 for each license, $100 of which     shall be deposited into the General Revenue Fund and the balance of which shall be deposited into the Regulatory Fund.(3) A fee for each required certificate.  The amount     of the fee for each certificate shall be established by rule.  Fees shall be deposited into the Regulatory Fund.(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:(1) A financial statement prepared in accordance with     the requirements of item (a)(1) of Section 5-10 or, instead, a financial statement made within 90 days after the date of the application prepared or certified by an independent accountant and verified under oath by the applicant.  The financial statement shall set forth the balance sheet and statement of income of the applicant and other information with respect to the financial resources of the applicant that the Department may require.(2) A fee of $150 for each license, $100 of which     shall be deposited into the General Revenue Fund and the balance of which shall be deposited into the Regulatory Fund.(3) A fee for each required certificate.  The amount     of the fee for each certificate shall be established by rule.  Fees shall be deposited into the Regulatory Fund.   (Source: P.A. 93-225, eff. 7-21-03.)
240 ILCS 40/5-35
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 5 - Licensing

(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:(1) the day of the revocation order;(2) the day that a licensee voluntarily files for     bankruptcy under the federal bankruptcy laws; or(3) the day that an order for relief is entered in     reference to a licensee as a consequence of a petition for involuntary bankruptcy filed under the federal bankruptcy laws.(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.)
240 ILCS 40/Art. 10 heading
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 10 - Duties And Requirements Of Licensees

 ARTICLE 10.      DUTIES AND REQUIREMENTS OF LICENSEES
240 ILCS 40/10-5
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 10 - Duties And Requirements Of Licensees

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 provision     that it will not be cancelled by the principal or the insurance company except on 60 days prior written notice to the Director and the principal insured. Cancellation of the policy does not affect the liability accrued or that may accrue under the policy before the expiration of the 60 days.  The notice shall contain the termination date.(2) Each licensee shall keep a general insurance     account showing the policy number, issuing company, amount, binding date, and expiration date of insurance coverage and the property covered by insurance.(3) In reference to a warehouseman, notwithstanding     any provision to the contrary contained in the warehouse receipts involved, a warehouseman is not obligated to provide property insurance on Commodity Credit Corporation grain ("CCC-owned grain"). The warehouseman, however, shall continue to carry the insurance required on loan grain that becomes CCC-owned grain until the date stated in a written notice from CCC or its agent instructing the warehouseman to cancel the insurance on the grain as of that date. If CCC-owned grain is not covered by property insurance, recovery by the Commodity Credit Corporation from the Fund shall be reduced by the amount of property insurance proceeds that would have been available to cover any loss to CCC-owned grain had the CCC-owned grain been covered by property insurance.(b) A licensee shall immediately notify the Department when  there is a change of management or cessation of operations or  change in fiscal year end.(c) All grain trades, grain merchandising transactions, grain origination  plans  and  programs, and transactions or arrangements that represent or reflect rights and  obligations in grain must be clearly identified and disclosed in the books and  records of the licensee, for audit and examination purposes.    (Source: P.A. 93-225, eff. 7-21-03.)
240 ILCS 40/Art. 15 heading
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

 ARTICLE 15.      VIOLATIONS; FINANCIAL DEFICIENCIES; ADMINISTRATIVE PENALTIES; SUSPENSION AND REVOCATION OF LICENSE.
240 ILCS 40/15-5
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

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.    (Source: P.A. 89-287, eff. 1-1-96.)
240 ILCS 40/15-10
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

Sec. 15-10. De minimis violations.(a) If a licensee commits a de minimis violation of this Code, the Director  may, in his or her discretion, and without further action, issue a warning  letter to the licensee.(b) For the purposes of this Article, a de minimis violation  exists when a licensee:(1) violates the maximum allowable speculative limits     of item (a)(2) of Section 10-10 by 1,000 bushels or less;(2) has total grain quantity deficiency violations     that do not exceed $1,000 as determined by the formula set forth in subsection (c) of Section 15-20; or(3) has total grain quality deficiency violations     that do not exceed $1,000 as determined by the formula set forth in subsection (d) of Section 15-20. (Source: P.A. 99-642, eff. 7-28-16.)
240 ILCS 40/15-25
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

Sec. 15-25.     Deposit of penalties.     All monetary penalties  collected by the Department shall be paid into the Fund.     (Source: P.A. 89-287, eff. 1-1-96.)
240 ILCS 40/15-30
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

Sec. 15-30.         Financial and record keeping deficiencies;  collateral and guarantees.(a) An applicant or a licensee has a financial deficiency if it  does not meet the minimum financial requirements of Section 5-25  and subsection (b) of Section 10-15 of this Code.(b) A licensee must collateralize all financial deficiencies  at the rate of one dollar's worth of collateral  for each dollar of the aggregate sum of the individual ratio  deficiencies, the net worth deficiencies, and 90% asset requirement  deficiencies.(c) A licensee who  is found to have record keeping  deficiencies, other than in reference to violations as set forth in  subsection (b) of Section 10-15 and in Sections 15-15 and 15-20, may be  required by the Department to post collateral up to the amount of $10,000.(d) If an applicant for a new license or a renewal of a  license has financial deficiencies or the Department has reason to believe that  the financial  stability of an applicant or a licensee is in question, the  Department may require the applicant or licensee to provide the  Department, in addition to collateral, personal, corporate, or  other related person guarantees in a form and in an amount satisfactory to the  Department.(e) Subject to subsection (c) of Section 5-15, the posting of collateral and  the delivery of guarantees does not relieve a licensee of the continuing  obligation to otherwise comply with the requirements imposed by the Code.    (Source: P.A. 93-225, eff. 7-21-03.)
240 ILCS 40/15-35
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

Sec. 15-35.     Return of collateral and guarantees.     If the next fiscal  year's financial statement of a licensee  received by  the  Department and an examination performed by the Department  after delivery or posting of any required collateral or the  guarantee indicates compliance by the licensee with all statutory  requirements of this Code for which the collateral and guarantees were  required,  the collateral and guarantee shall be returned within 90 days to the licensee and the guarantor following a  written request for the return.  The financial statement must comply with the  requirements of Section 5-20.    (Source: P.A. 93-225, eff. 7-21-03.)
240 ILCS 40/15-40
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

Sec. 15-40.     Suspension and revocation of license.(a) The Director may suspend a license and take possession and  control of  all  grain assets and equity assets  (except that the Department may not take possession and control of any equity  asset on which there is a valid prior perfected security interest or other  valid prior perfected lien  without the  prior, written permission of the secured party or lien holder)  of the suspended licensee if the  Department has reason to believe that any of the following has  occurred:(1) A licensee has made a formal declaration of     insolvency; failed to apply for license renewal, leaving indebtedness to claimants; or been denied a license renewal, leaving indebtedness to claimants.(2) A licensee has failed to pay a producer, on     demand, for grain purchased from that producer, assuming no bona fide dispute exists with regard to the payment.(3) A licensee is otherwise unable to financially     satisfy claimants in accordance with any applicable statute, rule, or agreement, assuming a bona fide dispute does not exist between the licensee and the claimant.(4) A licensee has violated any of the other     provisions of this Code and the violation, or the pattern of the violations, would create a substantial risk of failure.(5) A licensee has failed to pay a penalty or post     collateral or guarantees by the date ordered by the Director.(6) A licensee has failed to pay an assessment as     required by Section 5-30.(b)  The Director may revoke a license if the Director finds, after an  administrative hearing,  that any of the grounds for suspension under item  (a)(1), (a)(2), (a)(3), (a)(4), (a)(5), or (a)(6) of Section  15-40 have occurred.(c) When a licensee voluntarily files for bankruptcy  under the federal bankruptcy laws, that filing  constitutes a revocation of the license of the licensee on the  day that the filing occurs.(d) When an order for relief is entered in reference to a  licensee as a consequence of a petition for involuntary  bankruptcy filed under the federal bankruptcy laws, that order  constitutes a revocation of the license  on the date of that order.(e) Within 10 days after suspension of a license, an  administrative hearing shall be commenced to determine whether the  license shall be reinstated or revoked.  Whenever an administrative hearing is  scheduled, the licensee shall be  served with written notice of the date, place, and time of the hearing at least  5  days before  the hearing date.  The notice may be served by personal  service on the licensee or by mailing it by registered or  certified mail, return receipt requested, to the licensee's place of business.  The Director may,  after a hearing, issue an order either revoking or reinstating the  license.    (Source: P.A. 93-225, eff. 7-21-03.)
240 ILCS 40/15-45
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

(240 ILCS 40/15-45)Sec. 15-45.     Criminal offenses.(a) A person who causes a warehouse receipt for grain to be issued knowing  that the grain for which that warehouse receipt is issued is not under the  licensee's control at the time of issuing that warehouse receipt, or who causes  a licensee to issue a warehouse receipt for grain knowing that the warehouse  receipt contains any false representation, is guilty of a Class 2  felony.(b) A person who, knowingly and without lawful authority, disposes of grain  represented by outstanding warehouse receipts or covered by unreceipted storage  obligations is guilty of a Class 2 felony.(c) A person who, knowingly and without lawful authority:(1) withholds records from the Department;(2) keeps, creates, or files with the Department     false, misleading, or inaccurate records;(3) alters records without permission of the     Department; or(4) presents to the Department any materially false     or misleading records;    is guilty of a Class 2 felony.(d) A licensee who, after suspension or revocation of its license, knowingly  and without legal authority refuses to surrender to the Department all books,  accounts, and records relating to the licensee that are in its possession or  control is guilty of a Class 2 felony.(e) A licensee who knowingly impedes, obstructs, hinders, or otherwise  prevents or attempts to prevent the Director from performing his or her duties  under this Code, or who knowingly refuses to permit inspection of its premises,  books, accounts, or records by the Department, is guilty of a Class A  misdemeanor.(f) A person who, knowingly and without a license, engages in the business  of a grain dealer or a warehouseman for which a license is required under the  Code is guilty of a Class A misdemeanor.(g) A person who, intentionally, knowingly and without lawful authority:(1) fails to maintain sufficient assets as required     by subsection (b) of Section 10-15; or(2) issues a collateral warehouse receipt covering     grain purchased by a price later contract to the extent the purchase price has not been paid by the grain dealer;    is guilty of a Class 3 felony.(h) In case of a continuing violation, each day a violation occurs  constitutes a separate and distinct offense.    (Source: P.A. 93-225, eff. 7-21-03.)
240 ILCS 40/Art. 20 heading
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 20 - Failure; Liquidation

 ARTICLE 20.      FAILURE; LIQUIDATION
240 ILCS 40/20-5
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 20 - Failure; Liquidation

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 possession or control of grain  assets  (except the Department may not seize or otherwise gain possession or control  of any equity asset on which there is a valid security interest or other lien  without the prior, written permission of the secured party or lien holder),  equity assets, and collateral and enforce the lien set forth in Section  20-10.(b) Protect the grain assets, equity assets  (to the extent the Department has received the written permission of any  secured party or lien holder to take possession and control of the equity  asset),  and collateral  of or relating to a failed licensee in the possession or under the  control of the Department for the benefit of claimants, secured parties, and  lien holders.(c) Liquidate and collect upon all grain assets, equity  assets  (except the Department may not liquidate and collect upon any equity asset on  which there is a valid security interest or other lien without the prior,  written permission of the secured party or the lien holder),  collateral and guarantees posted with the Department of or  relating to a failed licensee, and deposit the proceeds into  the Trust Account.(d) Establish accounts in federally insured financial  institutions and hold all moneys received as trustee.(e) Request the transfer of moneys from the Fund to the Trust  Account for the purpose of payment to claimants in accordance with  Section 25-10.(f) Disburse the funds in the Trust Account in accordance  with this Code.    (Source: P.A. 89-287, eff. 1-1-96.)
240 ILCS 40/20-20
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 20 - Failure; Liquidation

Sec. 20-20. Liquidation expenses; Asset Preservation Account.(a) The Trustee shall pay from the Trust Account all  reasonable expenses incurred by the trustee on or after the date of failure in  reference to seizing, preserving, and liquidating the grain assets,  equity assets, collateral, and guarantees of or relating to a failed  licensee,  including, but not limited to, the hiring of temporary field  personnel, equipment rental, auction expenses, mandatory commodity check-offs,  and clerical  expenses.(b) Except as to claimants holding valid claims, any  outstanding indebtedness of a failed licensee that has accrued  before the date of failure shall not be paid by the Trustee and  shall represent a separate cause of action of the creditor against  the failed licensee.(c) The Trustee shall report all expenditures paid from the  Trust Account to the Corporation at least  annually.(d) To the extent assets are available under subsection (g) of Section  25-20 and upon presentation of documentation satisfactory to the Trustee, the  Trustee shall transfer from the Trust Account to the Regulatory Fund an amount  not to exceed the expenses incurred by the Department in performance of its  duties under Article 20 of this Code, in reference to the failed licensee.(e) The Department shall establish and maintain an Asset Preservation Account  as provided in Section 205-410 of the Department of Agriculture Law of the Civil Administrative Code of Illinois  that shall contain a maximum of $50,000. The funds in the Asset Preservation Account are to be used   solely by the Trustee for the reasonable expenses incurred by the Department on or after the date of failure for preserving and liquidating grain assets, equity assets, collateral, and guarantees of or relating to a failed licensee, provided that the Department has made a determination that the benefit of preserving and liquidating the grain assets, equity assets, collateral, and guarantees exceeds the anticipated costs of the preservation and liquidation, and only to the extent that all liquid and available moneys in the Grain Indemnity Trust Account relating to the particular failure have been exhausted.  The Asset Preservation Account shall be funded by the income earned on the assets in the Fund. The income must be transferred to the Asset Preservation Account on a monthly basis, within 10 business days after the end of each calendar month, and  to the extent necessary to maintain the $50,000 balance.  The Trustee, or his or her designee, must file a report of all receipts by and disbursements from the Asset Preservation Account with the Board prior to each meeting of the Board.              (Source: P.A. 93-225, eff. 7-21-03; 94-54, eff. 1-1-06.)
240 ILCS 40/20-25
2021 Illinois Compiled Statutes|Chapter 240 - WAREHOUSES|240 ILCS 40/ - Grain Code.|Article 20 - Failure; Liquidation

Sec. 20-25.     Refusal of licensee to allow liquidation.(a) If, after a failure, the failed licensee does not  transfer control of the grain assets to the Trustee, the Director  may, in conjunction with the authority granted in this Code and in  Section 205-410 of the Department of Agriculture Law