Illinois General Assembly - Bill Status for HB4841

Amends the Common Interest Community Association Act. Prohibits a person from running for or serving on an association that collects $100,000 or more in annual dues if, within the immediately preceding 36-month period, he or she has been more than 3 months delinquent in the payment of any fees or assessments to the association or has written 2 or more insufficient funds checks to the association for the payment of assessments or fees. Requires officers and members of the board to exercise the care required of a fiduciary of the membership. Prohibits a board, its officers, or board members from forbearing the payment of assessments or fees by any member nor shall any officer or member of the board unilaterally waive or vote on the waiver of any penalties applicable to himself or herself. For associations that collect annual dues of $100,000 or more, requires a background check of all members of the board in obtaining any fidelity bond and directors and officers liability coverage. Requires notification to the membership on a monthly basis through the prescribed delivery method of all delinquencies for dues, fees, and fines by any member of the board.

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