Sen. John J. Cullerton

Filed: 5/14/2008

 

 


 

 


 
09500HB4196sam003 LRB095 14969 HLH 50865 a

1
AMENDMENT TO HOUSE BILL 4196

2     AMENDMENT NO. ______. Amend House Bill 4196, AS AMENDED,
3 with reference to page and line numbers of Senate Amendment No.
4 2, on page 1, line 5, by replacing "Section 21-253" with
5 "Sections 21-253 and 21-260.5"; and
 
6 on page 2, immediately below line 5, by inserting the
7 following:
 
8     "(35 ILCS 200/21-260.5 new)
9     Sec. 21-260.5. Scavenger sale procedures; condominiums and
10 townhomes. For a condominium or townhome sold pursuant to this
11 Division, the collector must provide notice, sent by certified
12 mail with return receipt requested, to the condominium or
13 townhome association that is associated with the property. The
14 notice must state that the condominium or townhome association
15 may exercise the right of first refusal, if any, that the
16 association may have to purchase the property based upon the

 

 

09500HB4196sam003 - 2 - LRB095 14969 HLH 50865 a

1 association's declaration, bylaws, or other binding documents.
2 Within 30 days after receiving notice under this Section, the
3 association shall notify the collector if any such right of
4 first refusal exists as well as the terms of that right of
5 first refusal. The condominium or townhome may not be publicly
6 sold under this Division until the time has passed for the
7 association to exercise its right of first refusal.".