92nd General Assembly
Summary of HB2246
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House Sponsors:

Short description: 
CONDOMINIUM-INSURANC-RISK POOL                                             

Synopsis of Bill as introduced:
        Amends  the  Condominium  Property  Act.    Replaces   provisions      
   concerning  (i)  insurance  for condominium associations and (ii) risk      
   pooling trust funds for condominium associations  or  common  interest      
   community  associations.   Requires  that  a  condominium  association      
   maintain  property  insurance,  general  liability  insurance,  and  a      
   fidelity  bond  and  liability  coverage  for  directors and officers.      
   Provides that a condominium association may  require  unit  owners  to      
   obtain  insurance  coverage.   Requires  the  Director of Insurance to      
   adopt reasonable rules pertaining to the  standards  of  coverage  and      
   administration of risk pooling trust funds.                                 
          FISCAL NOTE (Office of the Illinois Courts)                          
          HB 2246 would have no fiscal impact on the judicial branch.          
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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