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90_SB1286
765 ILCS 35/100 from Ch. 30, par. 137
765 ILCS 35/102 from Ch. 30, par. 139
Amends the Registered Titles (Torrens) Act. In a
provision requiring the county treasurer to report to the
county board on the condition and income of the indemnity
fund held by the treasurer to satisfy claims against the
county related to this Act, provides that the report shall
show the claims made against the fund and paid by the fund
for each of the prior 10 years and that if the report shows
that the average amount of claims paid over the prior 10
years from the fund have been less than 5% of the fund's
total current balance, and the claims have not exceeded 5% of
the current fund in any single year, then the county board
may preserve no less than 20 times the highest amount of
total claims paid in any single year over the prior 10 years,
and release the remainder of the fund to finance the
abatement of lead paint in structures where children may be
at risk. Provides that upon the statutory expiration of all
potential claims to the fund, the entirety of the fund may be
used for lead abatement, or other related purposes as the
county board may then determine. Effective immediately.
LRB9008849SMdv
LRB9008849SMdv
1 AN ACT to amend the Registered Titles (Torrens) Act by
2 changing Sections 100 and 102.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Registered Titles (Torrens) Act is
6 amended by changing Sections 100 and 102 as follows:
7 (765 ILCS 35/100) (from Ch. 30, par. 137)
8 Sec. 100. All sums of money received pursuant to Sections
9 40, 99, and 108 of this Act shall be paid by the registrar to
10 the county treasurer of the county in which the land is
11 situated, for the purpose of maintaining an indemnity fund
12 under the terms of this Act. It shall be the duty of the
13 treasurer to invest all of the fund, including both principal
14 and income, from time to time if not immediately required for
15 payments of indemnities in accordance with Division 3-11 and
16 other applicable provisions of the Counties Code. The county
17 treasurer shall report annually to the county board the
18 condition and income of the fund and forward a copy of the
19 report to the registrar.
20 The report shall show the claims made against the fund
21 and paid by the fund for each of the prior 10 years. If the
22 report shows that the average amount of claims paid over the
23 prior 10 years from the fund have been less than 5% of the
24 fund's total current balance, and the claims have not
25 exceeded 5% of the current fund in any single year, then the
26 registrar, county board president, or a county commissioner
27 may seek full board action preserving so much of the
28 indemnity fund as exceeds no less than 20 times the highest
29 amount of total claims paid in any single year over the prior
30 10 years, and releasing the remainder of the fund for lead
31 abatement as set forth in this Section. The county board may
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1 use the released indemnity funds to finance, in whole or in
2 part, a low interest or interest-free loan or grant program
3 and related activities, for the abatement of lead paint in
4 structures where the existence of lead paint poses or could
5 pose a direct health risk to children, on terms and
6 conditions as the county board may deem sound. Upon the
7 statutory expiration of all potential claims to the fund, the
8 entirety of the fund may be used for lead abatement, or for
9 other similar health or safety-related real estate purposes
10 as the county board may then determine.
11 (Source: P.A. 86-1475.)
12 (765 ILCS 35/102) (from Ch. 30, par. 139)
13 Sec. 102. The indemnity fund shall be held, except as
14 provided in Section 100, to satisfy judgments obtained or
15 claims allowed against the county for losses or damages as
16 aforesaid. Such claims for damages shall be presented to the
17 registrar and county board, and such county board is hereby
18 authorized and empowered to allow or reject the same and to
19 provide for the payment of such claims as may be allowed.
20 No claims for such losses or damages shall be allowed and
21 paid by any such county board unless upon the recommendation
22 of the registrar who shall be in office at the time the claim
23 shall be allowed. The county board shall grant or deny such
24 claims in whole or in part within 60 days from the date of
25 the receipt thereof by the county board. In the event the
26 county board shall fail to grant or deny such claims in whole
27 or in part within 60 days from the date of the receipt
28 thereof, the claims are deemed to be denied. Judicial review
29 may be had in accordance with Administrative Review Law as
30 heretofore or hereafter amended.
31 (Source: P.A. 82-783.)
32 Section 99. Effective date. This Act takes effect upon
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1 becoming law.