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| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014 SB3537 Introduced 2/14/2014, by Sen. Michael E. Hastings SYNOPSIS AS INTRODUCED: |
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Amends the Common Interest Community Association Act. Provides that a common interest community association meeting specified criteria is exempt from the Act if the association affirmatively elects to be exempt from the Act by a majority vote of all of its members (instead of "unless the association affirmatively elects to be covered by this Act by a majority of its directors or members").
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| | A BILL FOR |
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| | SB3537 | | LRB098 15771 HEP 50803 b |
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1 | | AN ACT concerning civil law.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Common Interest Community Association Act is |
5 | | amended by changing Section 1-75 as follows: |
6 | | (765 ILCS 160/1-75)
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7 | | Sec. 1-75. Exemptions for small common interest |
8 | | communities. |
9 | | (a) A common interest community association organized |
10 | | under the General Not for Profit Corporation Act of 1986 and |
11 | | having either (i) 10 units or less or (ii) annual budgeted |
12 | | assessments of $100,000 or less shall be exempt from this Act |
13 | | if unless the association affirmatively elects to be exempt |
14 | | from covered by this Act by a majority vote of all of its |
15 | | directors or members. |
16 | | (b) Common interest community associations which in their |
17 | | declaration, bylaws, or other governing documents provide that |
18 | | the association may not use the courts or an arbitration |
19 | | process to collect or enforce assessments, fines, or similar |
20 | | levies and common interest community associations (i) of 10 |
21 | | units or less or (ii) having annual budgeted assessments of |
22 | | $50,000 or less shall be exempt from subsection (a) of Section |
23 | | 1-30, subsections (a) and (b) of Section 1-40, and Section 1-55 |