§ 240 ILCS 40/15-5 Training
§ 240 ILCS 40/15-10 De minimis violations
§ 240 ILCS 40/15-15 Violations of open position limits
§ 240 ILCS 40/15-20 Grain quantity and grain quality violations
§ 240 ILCS 40/15-25 Deposit of penalties
§ 240 ILCS 40/15-30 Financial and record keeping deficiencies; collateral and guarantees
§ 240 ILCS 40/15-35 Return of collateral and guarantees
§ 240 ILCS 40/15-40 Suspension and revocation of license
§ 240 ILCS 40/15-45 Criminal offenses

Terms Used In Illinois Compiled Statutes > 240 ILCS 40 > Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Contract: A legal written agreement that becomes binding when signed.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Statute: A law passed by a legislature.