(a) In this Section: "Claimant" means a person who is unable to secure satisfaction of financial obligations due from a person subject to regulation by the Department, in accordance with the applicable statute or regulation and the time limits provided for in that statute or regulation, if any, under any of the following Acts:
(1) The Illinois Egg and Egg Products Act.(2) The Personal Property Storage Act.(3) The Livestock Auction Market Law.(4) The Illinois Pesticide Act.(5) The Weights and Measures Act.(6) The Illinois Livestock Dealer Licensing Act.(7) The Slaughter Livestock Buyers Act.(8) The Illinois Feeder Swine Dealer Licensing Act. "Failure" under the Acts cited in the definition of "claimant" contained in this Section means any of the following:
(1) An inability to financially satisfy claimants in accordance with the applicable statute or regulation and the time limits provided for in that statute or regulation, if any.(2) A public declaration of insolvency.(3) A revocation of a license and the leaving of an outstanding indebtedness to claimants.(4) A failure to pay claimants in the ordinary course of business and when a bonafide dispute does not exist between the licensee and the customer.(5) A failure to apply for renewal of a license.(6) A denial of a request for renewal of a license.(7) A voluntary surrendering of a license.