Illinois Compiled Statutes 105 ILCS 5/28-1 – Copies and prices filed – Bond
Current as of: 2024 | Check for updates
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No publisher or retail dealer shall offer any school instructional materials for adoption, sale, or exchange in the State until it has complied with the following conditions:
1. The publisher or retail dealer shall publish on
1. The publisher or retail dealer shall publish on
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its website by July 15 each year a sworn statement of the usual list price, the lowest net wholesale price, and the lowest net exchange price at which the material is sold or exchanged for old material on the same subject of like grade and kind but of a different series taken in part payment thereof.
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2. The publisher or retail dealer shall obtain a
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bond payable to the People of the State of Illinois with a surety company authorized to do business in the State of Illinois as surety thereon of not less than $2,000 nor more than $10,000 conditioned as follows:
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(a) That the publisher or retail dealer will
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furnish annually any of the materials listed on the sworn statement on its website to any school district and any school corporation in this State at the lowest net prices contained in the statements and that it will maintain said prices uniformly throughout the State.
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(b) That the publisher or retail dealer will
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reduce such net prices in Illinois whenever they are reduced elsewhere in the United States, and shall publish on its website a sworn statement of reductions made elsewhere, so that at no time shall any instructional material so filed and listed by the publisher or retail dealer be sold in this State at a higher net price than is received for such material elsewhere in the United States.
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(c) The publisher or retail dealer shall not
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enter into any understanding, agreement or combination to control the prices or to restrict competition in the sale of instructional materials.
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Terms Used In Illinois Compiled Statutes 105 ILCS 5/28-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
- sworn: shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12
- United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14