Full Text of SB0928 100th General Assembly
SB0928eng 100TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning civil law.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Common Interest Community Association Act is | 5 | | amended by changing Section 1-35 as follows: | 6 | | (765 ILCS 160/1-35) | 7 | | Sec. 1-35. Member powers, duties, and obligations. | 8 | | (a) The provisions of this Act, the declaration, bylaws, | 9 | | other community instruments, and rules and regulations that | 10 | | relate to the use of an individual unit or the common areas | 11 | | shall be applicable to any person leasing a unit and shall be | 12 | | deemed to be incorporated in any lease executed or renewed on | 13 | | or after the effective date of this Act. Unless otherwise | 14 | | provided in the community instruments, with regard to any lease | 15 | | entered into subsequent to the effective date of this Act, the | 16 | | unit owner leasing the unit shall deliver a copy of the signed | 17 | | lease to the association or if the lease is oral, a memorandum | 18 | | of the lease, not later than the date of occupancy or 10 days | 19 | | after the lease is signed, whichever occurs first. | 20 | | (b) If there are multiple owners of a single unit, only one | 21 | | of the multiple owners shall be eligible to serve as a member | 22 | | of the board at any one time, unless the unit owner owns | 23 | | another unit independently. |
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| 1 | | (c) Two-thirds of the membership may remove a board member | 2 | | as a director at a duly called special meeting. | 3 | | (d) In the event of any resale of a unit in a common | 4 | | interest community association by a member or unit owner other | 5 | | than the developer, the board shall make available for | 6 | | inspection to the prospective purchaser, upon demand, the | 7 | | following:
| 8 | | (1) A copy of the declaration, other instruments, and | 9 | | any rules and regulations , and any adopted common expense | 10 | | collection policies .
| 11 | | (2) A statement of any liens, including a statement of | 12 | | the account of the unit setting forth the amounts of unpaid | 13 | | assessments and other charges due and owing.
| 14 | | (3) A statement of any capital expenditures | 15 | | anticipated by the association within the current or | 16 | | succeeding 2 fiscal years.
| 17 | | (4) A statement of the status and amount of any reserve | 18 | | or replacement fund and any other fund specifically | 19 | | designated for association projects.
| 20 | | (5) A copy of the statement of financial condition of | 21 | | the association for the last fiscal year for which such a | 22 | | statement is available.
| 23 | | (6) A statement of the status of any pending suits or | 24 | | judgments in which the association is a party.
| 25 | | (7) A statement setting forth what insurance coverage | 26 | | is provided for all members or unit owners by the |
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| 1 | | association for common properties. | 2 | | (8) A statement setting forth the current assessment | 3 | | obligations, including any special assessments or other | 4 | | common expenses. | 5 | | (9) A statement setting forth the current late fees or | 6 | | interest that may be charged on an unpaid balance, if any.
| 7 | | The principal officer of the board , or such other officer | 8 | | as is specifically designated , or agent for the association | 9 | | shall disclose furnish the above information within 30 days | 10 | | after receiving a written request for such information. | 11 | | A reasonable fee covering the direct out-of-pocket cost of | 12 | | copying and providing such information may be charged by the | 13 | | association or the board to the unit seller for providing the | 14 | | information.
| 15 | | (Source: P.A. 97-605, eff. 8-26-11; 97-1090, eff. 8-24-12; | 16 | | 98-842, eff. 1-1-15 .)
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