SB2772 Engrossed

LRB094 18971 LCT 54438 b






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    AN ACT concerning business.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:

 
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    Section 5. The General Not For Profit Corporation Act of 
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1986 is amended  by changing Section 108.21 as follows:
 



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    (805 ILCS 105/108.21)  (from Ch. 32, par. 108.21)



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    Sec. 108.21. Meetings of the board of directors of a 
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residential
not-for-profit homeowners association or 
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cooperative not-for-profit corporation containing 24 or more 
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units
shall be open to any member, except for the portion of 
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any meeting held (i) to
discuss litigation when an action 
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against or on behalf of the
corporation has been filed and is 
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pending in a court or administrative
tribunal, or when the 
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board of directors finds that such an action is
probable or 
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imminent, (ii) to consider information regarding appointment,

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employment or dismissal of an employee, or (iii) to discuss 
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violations of
rules and regulations of the corporation by a 
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residential shareholder.
Any member
may record by tape, film or 
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other means the proceedings at such meetings or
portions 
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thereof required to be
open by this Section. The board may 
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prescribe
reasonable rules and regulations to govern the right 
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to make such
recordings. Notice of such meetings shall be 
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mailed or delivered at
least 48 hours prior thereto, unless a 
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written waiver of such notice is
signed by the person or 
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persons entitled to such notice pursuant to the
articles of 
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incorporation, bylaws, other instrument
before the meeting is 
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convened. Copies
of notices of meetings of the board of 
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directors shall be posted in
entranceways, elevators, or other 
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conspicuous places in the residential
cooperative at least 48 
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hours prior to the meeting of the board of
directors. If there 
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is no common entranceway for 7 or more
apartments, the board of 
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directors may designate one or more locations in
the proximity 
 


 






SB2772 Engrossed
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LRB094 18971 LCT 54438 b




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of such units where the notices of meetings shall be posted.

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For purposes of this Section, "meeting of the board of 
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directors" means any
gathering of a quorum of the members of 
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the board of directors of the
residential cooperative held for 
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the purpose of discussing business of the
cooperative.
The 
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provisions of this Section shall apply to any residential 
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cooperative
containing 24 or more units
situated in the State 
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of Illinois regardless of where
such cooperative may be 
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incorporated.

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(Source: P.A. 91-465, eff. 8-6-99; 92-638, eff. 1-1-03.)


 
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    Section 99. Effective date. This Act takes effect upon 
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becoming law.