Illinois General Assembly - Full Text of SB3193
Illinois General Assembly

Previous General Assemblies

Full Text of SB3193  102nd General Assembly

SB3193sam001 102ND GENERAL ASSEMBLY

Sen. Meg Loughran Cappel

Filed: 2/14/2022

 

 


 

 


 
10200SB3193sam001LRB102 24026 LNS 36331 a

1
AMENDMENT TO SENATE BILL 3193

2    AMENDMENT NO. ______. Amend Senate Bill 3193 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Condominium Property Act is amended by
5changing Section 22.1 as follows:
 
6    (765 ILCS 605/22.1)  (from Ch. 30, par. 322.1)
7    Sec. 22.1. (a) In the event of any resale of a condominium
8unit by a unit owner other than the developer such owner shall
9obtain from the Board of Managers and shall make available for
10inspection to the prospective purchaser, upon demand, the
11following:
12        (1) A copy of the Declaration, by-laws, other
13    condominium instruments, and any rules and regulations.
14        (2) A statement of any liens, including a statement of
15    the account of the unit setting forth the amounts of
16    unpaid assessments and other charges due and owing as

 

 

10200SB3193sam001- 2 -LRB102 24026 LNS 36331 a

1    authorized and limited by the provisions of Section 9 of
2    this Act or the condominium instruments.
3        (3) A statement of any capital expenditures
4    anticipated by the unit owner's association within the
5    current or succeeding 2 two fiscal years.
6        (4) A statement of the status and amount of any
7    reserve for replacement fund and any portion of such fund
8    earmarked for any specified project by the Board of
9    Managers.
10        (5) A copy of the statement of financial condition of
11    the unit owner's association for the last fiscal year for
12    which such statement is available.
13        (6) A statement of the status of any pending suits or
14    judgments in which the unit owner's association is a
15    party.
16        (7) A statement setting forth what insurance coverage
17    is provided for all unit owners by the unit owner's
18    association.
19        (8) A statement that any improvements or alterations
20    made to the unit, or the limited common elements assigned
21    thereto, by the prior unit owner are in good faith
22    believed to be in compliance with the condominium
23    instruments.
24        (9) The identity and mailing address of the principal
25    officer of the unit owner's association or of the other
26    officer or agent as is specifically designated to receive

 

 

10200SB3193sam001- 3 -LRB102 24026 LNS 36331 a

1    notices.
2    (b) The principal officer of the unit owner's association
3or such other officer as is specifically designated shall
4furnish the above information when requested to do so in
5writing and within 30 days of the request.
6    (c) Within 15 days of the recording of a mortgage or trust
7deed against a unit ownership given by the owner of that unit
8to secure a debt, the owner shall inform the Board of Managers
9of the unit owner's association of the identity of the lender
10together with a mailing address at which the lender can
11receive notices from the association. If a unit owner fails or
12refuses to inform the Board as required under subsection (c)
13then that unit owner shall be liable to the association for all
14costs, expenses, and reasonable attorney's attorneys fees and
15such other damages, if any, incurred by the association as a
16result of such failure or refusal.
17    A reasonable fee, not to exceed $250, covering the direct
18out-of-pocket cost of providing such information and copying
19may be charged by the association or its Board of Managers to
20the unit seller for providing such information. The
21association or its Board of Managers may charge an additional
22rush fee of not more than $100 if the information requested
23under this Section is needed within 72 hours after the request
24for the information is made.
25(Source: P.A. 87-692.)
 

 

 

10200SB3193sam001- 4 -LRB102 24026 LNS 36331 a

1    Section 99. Effective date. This Act takes effect upon
2becoming law.".