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240 ILCS 40/1-25

Rules

Known as the Grain Code

The act spans §§ 240-40-1-1 to 240-40-1-5 (8 sections).

P.A. 96-464, eff. 8-14-09.

The Department may promulgate rules that are necessary for the implementation and administration of this Code. (a) The Department shall adopt rules governing electronic systems under which electronic warehouse receipts are issued and transferred. Licensees shall not be required, however, to issue or use electronic warehouse receipts. These rules shall be adopted after the United States Department of Agriculture adopts regulations concerning an electronic receipt transfer system pursuant to 7 U.S.C. 242, 250. (b) The Department shall adopt rules governing electronic price later contracts. Licensees and producers shall not be required, however, to issue or use electronic price later contracts.

Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.