Bill Text: IL SB0928 | 2017-2018 | 100th General Assembly | Engrossed

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Bill Title: Amends the Common Interest Community Association Act. Provides that an owner who intends to convey any interest in property subject to assessments under this Act shall notify the board that the owner intends to convey the property. Provides that upon receiving such a notice from the owner, the board shall provide each person to whom an interest in the property is conveyed with written documentation detailing the assessment structure of the association. Provides that the written documentation must include the penalties for failure to pay the assessments required by the association. Provides that the written documentation shall provide space for both the owner and each person to whom the property is conveyed to indicate by signature or initial that the written documentation has been provided to and reviewed by the person to whom the property is conveyed. Provides that the board shall be provided with and keep a copy of the signed or initialed documentation.

Spectrum: Bipartisan Bill

Status: (Failed) 2019-01-09 - Session Sine Die [SB0928 Detail]

Download: Illinois-2017-SB0928-Engrossed.html

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AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Common Interest Community Association Act is
amended by changing Section 1-35 as follows:
(765 ILCS 160/1-35)
Sec. 1-35. Member powers, duties, and obligations.
(a) The provisions of this Act, the declaration, bylaws,
other community instruments, and rules and regulations that
relate to the use of an individual unit or the common areas
shall be applicable to any person leasing a unit and shall be
deemed to be incorporated in any lease executed or renewed on
or after the effective date of this Act. Unless otherwise
provided in the community instruments, with regard to any lease
entered into subsequent to the effective date of this Act, the
unit owner leasing the unit shall deliver a copy of the signed
lease to the association or if the lease is oral, a memorandum
of the lease, not later than the date of occupancy or 10 days
after the lease is signed, whichever occurs first.
(b) If there are multiple owners of a single unit, only one
of the multiple owners shall be eligible to serve as a member
of the board at any one time, unless the unit owner owns
another unit independently.

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(c) Two-thirds of the membership may remove a board member
as a director at a duly called special meeting.
(d) In the event of any resale of a unit in a common
interest community association by a member or unit owner other
than the developer, the board shall make available for
inspection to the prospective purchaser, upon demand, the
following:
(1) A copy of the declaration, other instruments, and
any rules and regulations, and any adopted common expense
collection policies.
(2) A statement of any liens, including a statement of
the account of the unit setting forth the amounts of unpaid
assessments and other charges due and owing.
(3) A statement of any capital expenditures
anticipated by the association within the current or
succeeding 2 fiscal years.
(4) A statement of the status and amount of any reserve
or replacement fund and any other fund specifically
designated for association projects.
(5) A copy of the statement of financial condition of
the association for the last fiscal year for which such a
statement is available.
(6) A statement of the status of any pending suits or
judgments in which the association is a party.
(7) A statement setting forth what insurance coverage
is provided for all members or unit owners by the

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association for common properties.
(8) A statement setting forth the current assessment
obligations, including any special assessments or other
common expenses.
(9) A statement setting forth the current late fees or
interest that may be charged on an unpaid balance, if any.
The principal officer of the board, or such other officer
as is specifically designated, or agent for the association
shall disclose furnish the above information within 30 days
after receiving a written request for such information.
A reasonable fee covering the direct out-of-pocket cost of
copying and providing such information may be charged by the
association or the board to the unit seller for providing the
information.
(Source: P.A. 97-605, eff. 8-26-11; 97-1090, eff. 8-24-12;
98-842, eff. 1-1-15.)