Illinois § 15-35 Return of collateral and guarantees

Illinois Statutes

§ 15-35 — Return of collateral and guarantees

Illinois § 15-35

JurisdictionIllinois

TopicREGULATION

Ch. 240WAREHOUSES

Act 240 ILCS 40/Grain Code.

Art.Article 15 - Violations; Financial Deficiencies; Administrative Penalties; Suspension And Revocation Of License

This text of Illinois § 15-35 (Return of collateral and guarantees) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

240 Ill. Comp. Stat. 15-35 (2026).

Text

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.

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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.