Bill Text: IL SB1374 | 2015-2016 | 99th General Assembly | Chaptered

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Bill Title: Amends the Code of Civil Procedure. Adds certain common interest community associations owned by limited liability companies to the list of associations subject to specified provisions of the Code. Amends the Common Interest Community Association Act. Makes associations organized as limited liability companies subject to the Act. Adds references to articles of organization. In places where the Act addresses an association's declaration or bylaws, adds operating agreements. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2015-07-14 - Public Act . . . . . . . . . 99-0041 [SB1374 Detail]

Download: Illinois-2015-SB1374-Chaptered.html

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Public Act 099-0041
SB1374 Enrolled LRB099 05853 HEP 25897 b
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Code of Civil Procedure is amended by
changing Section 9-102 as follows:
(735 ILCS 5/9-102) (from Ch. 110, par. 9-102)
Sec. 9-102. When action may be maintained.
(a) The person entitled to the possession of lands or
tenements may be restored thereto under any of the following
circumstances:
(1) When a forcible entry is made thereon.
(2) When a peaceable entry is made and the possession
unlawfully withheld.
(3) When entry is made into vacant or unoccupied lands
or tenements without right or title.
(4) When any lessee of the lands or tenements, or any
person holding under such lessee, holds possession without
right after the termination of the lease or tenancy by its
own limitation, condition or terms, or by notice to quit or
otherwise.
(5) When a vendee having obtained possession under a
written or verbal agreement to purchase lands or tenements,
and having failed to comply with the agreement, withholds

possession thereof, after demand in writing by the person
entitled to such possession; provided, however, that any
such agreement for residential real estate as defined in
the Illinois Mortgage Foreclosure Law entered into on or
after July 1, 1987 where the purchase price is to be paid
in installments over a period in excess of 5 years and the
amount unpaid under the terms of the contract at the time
of the filing of a foreclosure complaint under Article XV,
including principal and due and unpaid interest, is less
than 80% of the original purchase price shall be foreclosed
under the Illinois Mortgage Foreclosure Law.
This amendatory Act of 1993 is declarative of existing
law.
(6) When lands or tenements have been conveyed by any
grantor in possession, or sold under the order or judgment
of any court in this State, or by virtue of any sale in any
mortgage or deed of trust contained and the grantor in
possession or party to such order or judgment or to such
mortgage or deed of trust, after the expiration of the time
of redemption, when redemption is allowed by law, refuses
or neglects to surrender possession thereof, after demand
in writing by the person entitled thereto, or his or her
agent.
(7) When any property is subject to the provisions of
the Condominium Property Act, the owner of a unit fails or
refuses to pay when due his or her proportionate share of

the common expenses of such property, or of any other
expenses lawfully agreed upon or any unpaid fine, the Board
of Managers or its agents have served the demand set forth
in Section 9-104.1 of this Article in the manner provided
for in that Section and the unit owner has failed to pay
the amount claimed within the time prescribed in the
demand; or if the lessor-owner of a unit fails to comply
with the leasing requirements prescribed by subsection (n)
of Section 18 of the Condominium Property Act or by the
declaration, by-laws, and rules and regulations of the
condominium, or if a lessee of an owner is in breach of any
covenants, rules, regulations, or by-laws of the
condominium, and the Board of Managers or its agents have
served the demand set forth in Section 9-104.2 of this
Article in the manner provided in that Section.
(8) When any property is subject to the provisions of a
declaration establishing a common interest community and
requiring the unit owner to pay regular or special
assessments for the maintenance or repair of common areas
owned in common by all of the owners of the common interest
community or by the community association and maintained
for the use of the unit owners or of any other expenses of
the association lawfully agreed upon, and the unit owner
fails or refuses to pay when due his or her proportionate
share of such assessments or expenses and the board or its
agents have served the demand set forth in Section 9-104.1

of this Article in the manner provided for in that Section
and the unit owner has failed to pay the amount claimed
within the time prescribed in the demand.
(b) The provisions of paragraph (8) of subsection (a) of
Section 9-102 and Section 9-104.3 of this Act shall not apply
to any common interest community unless (1) the association is
a not-for-profit corporation or a limited liability company,
(2) unit owners are authorized to attend meetings of the board
of directors or board of managers of the association in the
same manner as provided for condominiums under the Condominium
Property Act, and (3) the board of managers or board of
directors of the common interest community association has,
subsequent to the effective date of this amendatory Act of 1984
voted to have the provisions of this Article apply to such
association and has delivered or mailed notice of such action
to the unit owners or unless the declaration of the association
is recorded after the effective date of this amendatory Act of
1985.
(c) For purposes of this Article:
(1) "Common interest community" means real estate
other than a condominium or cooperative with respect to
which any person by virtue of his or her ownership of a
partial interest or unit therein is obligated to pay for
maintenance, improvement, insurance premiums, or real
estate taxes of other real estate described in a
declaration which is administered by an association.

(2) "Declaration" means any duly recorded instruments,
however designated, that have created a common interest
community and any duly recorded amendments to those
instruments.
(3) "Unit" means a physical portion of the common
interest community designated by separate ownership or
occupancy by boundaries which are described in a
declaration.
(4) "Unit owners' association" or "association" means
the association of all owners of units in the common
interest community acting pursuant to the declaration.
(d) If the board of a common interest community elects to
have the provisions of this Article apply to such association
or the declaration of the association is recorded after the
effective date of this amendatory Act of 1985, the provisions
of subsections (c) through (h) of Section 18.5 of the
Condominium Property Act applicable to a Master Association and
condominium unit subject to such association under subsections
(c) through (h) of Section 18.5 shall be applicable to the
community associations and to its unit owners.
(Source: P.A. 88-47; 89-41, eff. 6-23-95; 89-626, eff. 8-9-96.)
Section 10. The Common Interest Community Association Act
is amended by changing Sections 1-5, 1-20, 1-25, 1-30, and 1-50
as follows:

(765 ILCS 160/1-5)
Sec. 1-5. Definitions. As used in this Act, unless the
context otherwise requires:
"Acceptable technological means" includes, without
limitation, electronic transmission over the Internet or other
network, whether by direct connection, intranet, telecopier,
or electronic mail.
"Association" or "common interest community association"
means the association of all the members of a common interest
community, acting pursuant to bylaws or an operating agreement
through its duly elected board of managers or board of
directors.
"Board" means a common interest community association's
board of managers or board of directors, whichever is
applicable.
"Board member" or "member of the board" means a member of
the board of managers or the board of directors, whichever is
applicable.
"Board of directors" means, for a common interest community
that has been incorporated as an Illinois not-for-profit
corporation, the group of people elected by the members of a
common interest community as the governing body to exercise for
the members of the common interest community association all
powers, duties, and authority vested in the board of directors
under this Act and the common interest community association's
declaration and bylaws.

"Board of managers" means, for a common interest community
that is an unincorporated association or organized as a limited
liability company, the group of people elected by the members
of a common interest community as the governing body to
exercise for the members of the common interest community
association all powers, duties, and authority vested in the
board of managers under this Act and the common interest
community association's declaration, and bylaws, or operating
agreement.
"Building" means all structures, attached or unattached,
containing one or more units.
"Common areas" means the portion of the property other than
a unit.
"Common expenses" means the proposed or actual expenses
affecting the property, including reserves, if any, lawfully
assessed by the common interest community association.
"Common interest community" means real estate other than a
condominium or cooperative with respect to which any person by
virtue of his or her ownership of a partial interest or a unit
therein is obligated to pay for the maintenance, improvement,
insurance premiums or real estate taxes of common areas
described in a declaration which is administered by an
association. "Common interest community" may include, but not
be limited to, an attached or detached townhome, villa, or
single-family home. A "common interest community" does not
include a master association.

"Community instruments" means all documents and authorized
amendments thereto recorded by a developer or common interest
community association, including, but not limited to, the
declaration, bylaws, operating agreement, plat of survey, and
rules and regulations.
"Declaration" means any duly recorded instruments, however
designated, that have created a common interest community and
any duly recorded amendments to those instruments.
"Developer" means any person who submits property legally
or equitably owned in fee simple by the person to the
provisions of this Act, or any person who offers units legally
or equitably owned in fee simple by the person for sale in the
ordinary course of such person's business, including any
successor to such person's entire interest in the property
other than the purchaser of an individual unit.
"Developer control" means such control at a time prior to
the election of the board of the common interest community
association by a majority of the members other than the
developer.
"Electronic transmission" means any form of communication,
not directly involving the physical transmission of paper, that
creates a record that may be retained, retrieved, and reviewed
by a recipient and that may be directly reproduced in paper
form by the recipient through an automated process.
"Majority" or "majority of the members" means the owners of
more than 50% in the aggregate in interest of the undivided

ownership of the common elements. Any specified percentage of
the members means such percentage in the aggregate in interest
of such undivided ownership. "Majority" or "majority of the
members of the board of the common interest community
association" means more than 50% of the total number of persons
constituting such board pursuant to the bylaws or operating
agreement. Any specified percentage of the members of the
common interest community association means that percentage of
the total number of persons constituting such board pursuant to
the bylaws or operating agreement.
"Management company" or "community association manager"
means a person, partnership, corporation, or other legal entity
entitled to transact business on behalf of others, acting on
behalf of or as an agent for an association for the purpose of
carrying out the duties, responsibilities, and other
obligations necessary for the day to day operation and
management of any property subject to this Act.
"Meeting of the board" or "board meeting" means any
gathering of a quorum of the members of the board of the common
interest community association held for the purpose of
conducting board business.
"Member" means the person or entity designated as an owner
and entitled to one vote as defined by the community
instruments. The terms "member" and "unit owner" may be used
interchangeably as defined by the community instruments,
except in situations in which a matter of legal title to the

unit is involved or at issue, in which case the term "unit
owner" would be the applicable term used.
"Membership" means the collective group of members
entitled to vote as defined by the community instruments.
"Parcel" means the lot or lots or tract or tracts of land
described in the declaration as part of a common interest
community.
"Person" means a natural individual, corporation,
partnership, trustee, or other legal entity capable of holding
title to real property.
"Plat" means a plat or plats of survey of the parcel and of
all units in the common interest community, which may consist
of a three-dimensional horizontal and vertical delineation of
all such units, structures, easements, and common areas on the
property.
"Prescribed delivery method" means mailing, delivering,
posting in an association publication that is routinely mailed
to all members, electronic transmission, or any other delivery
method that is approved in writing by the member and authorized
by the community instruments.
"Property" means all the land, property, and space
comprising the parcel, all improvements and structures
erected, constructed or contained therein or thereon,
including any building and all easements, rights, and
appurtenances belonging thereto, and all fixtures and
equipment intended for the mutual use, benefit, or enjoyment of

the members, under the authority or control of a common
interest community association.
"Purchaser" means any person or persons, other than the
developer, who purchase a unit in a bona fide transaction for
value.
"Record" means to record in the office of the recorder of
the county wherein the property is located.
"Reserves" means those sums paid by members which are
separately maintained by the common interest community
association for purposes specified by the declaration and
bylaws of the common interest community association.
"Unit" means a part of the property designed and intended
for any type of independent use.
"Unit owner" means the person or persons whose estates or
interests, individually or collectively, aggregate fee simple
absolute ownership of a unit.
(Source: P.A. 97-605, eff. 8-26-11; 97-1090, eff. 8-24-12;
98-1042, eff. 1-1-15.)
(765 ILCS 160/1-20)
Sec. 1-20. Amendments to the declaration, or bylaws, or
operating agreement.
(a) The administration of every property shall be governed
by the declaration and bylaws or operating agreement, which may
either be embodied in the declaration or in a separate
instrument, a true copy of which shall be appended to and

recorded with the declaration. No modification or amendment of
the declaration, or bylaws, or operating agreement shall be
valid unless the same is set forth in an amendment thereof and
such amendment is duly recorded. An amendment of the
declaration, or bylaws, or operating agreement shall be deemed
effective upon recordation, unless the amendment sets forth a
different effective date.
(b) Unless otherwise provided by this Act, amendments to
community instruments authorized to be recorded shall be
executed and recorded by the president of the board or such
other officer authorized by the common interest community
association or the community instruments.
(c) If an association that currently permits leasing amends
its declaration, bylaws, or rules and regulations to prohibit
leasing, nothing in this Act or the declarations, bylaws, rules
and regulations of an association shall prohibit a unit owner
incorporated under 26 USC 501(c)(3) which is leasing a unit at
the time of the prohibition from continuing to do so until such
time that the unit owner voluntarily sells the unit; and no
special fine, fee, dues, or penalty shall be assessed against
the unit owner for leasing its unit.
(d) No action to incorporate a common interest community as
a municipality shall commence until an instrument agreeing to
incorporation has been signed by two-thirds of the members.
(Source: P.A. 96-1400, eff. 7-29-10; 97-605, eff. 8-26-11;
97-1090, eff. 8-24-12.)

(765 ILCS 160/1-25)
Sec. 1-25. Board of managers, board of directors, duties,
elections, and voting.
(a) Elections shall be held in accordance with the
community instruments, provided that an election shall be held
no less frequently than once every 24 months, for the board of
managers or board of directors from among the membership of a
common interest community association.
(b) (Blank).
(c) The members of the board shall serve without
compensation, unless the community instruments indicate
otherwise.
(d) No member of the board or officer shall be elected for
a term of more than 4 years, but officers and board members may
succeed themselves.
(e) If there is a vacancy on the board, the remaining
members of the board may fill the vacancy by a two-thirds vote
of the remaining board members until the next annual meeting of
the membership or until members holding 20% of the votes of the
association request a meeting of the members to fill the
vacancy for the balance of the term. A meeting of the members
shall be called for purposes of filling a vacancy on the board
no later than 30 days following the filing of a petition signed
by membership holding 20% of the votes of the association
requesting such a meeting.

(f) There shall be an election of a:
(1) president from among the members of the board, who
shall preside over the meetings of the board and of the
membership;
(2) secretary from among the members of the board, who
shall keep the minutes of all meetings of the board and of
the membership and who shall, in general, perform all the
duties incident to the office of secretary; and
(3) treasurer from among the members of the board, who
shall keep the financial records and books of account.
(g) If no election is held to elect board members within
the time period specified in the bylaws, or within a reasonable
amount of time thereafter not to exceed 90 days, then 20% of
the members may bring an action to compel compliance with the
election requirements specified in the bylaws or operating
agreement. If the court finds that an election was not held to
elect members of the board within the required period due to
the bad faith acts or omissions of the board of managers or the
board of directors, the members shall be entitled to recover
their reasonable attorney's fees and costs from the
association. If the relevant notice requirements have been met
and an election is not held solely due to a lack of a quorum,
then this subsection (g) does not apply.
(h) Where there is more than one owner of a unit and there
is only one member vote associated with that unit, if only one
of the multiple owners is present at a meeting of the

membership, he or she is entitled to cast the member vote
associated with that unit.
(h-5) A member may vote:
(1) by proxy executed in writing by the member or by
his or her duly authorized attorney in fact, provided,
however, that the proxy bears the date of execution. Unless
the community instruments or the written proxy itself
provide otherwise, proxies will not be valid for more than
11 months after the date of its execution; or
(2) by submitting an association-issued ballot in
person at the election meeting; or
(3) by submitting an association-issued ballot to the
association or its designated agent by mail or other means
of delivery specified in the declaration or bylaws; or
(4) by any electronic or acceptable technological
means.
Votes cast under any paragraph of this subsection (h-5) are
valid for the purpose of establishing a quorum.
(i) The association may, upon adoption of the appropriate
rules by the board, conduct elections by electronic or
acceptable technological means. Members may not vote by proxy
in board elections. Instructions regarding the use of
electronic means or acceptable technological means for voting
shall be distributed to all members not less than 10 and not
more than 30 days before the election meeting. The instruction
notice must include the names of all candidates who have given

the board or its authorized agent timely written notice of
their candidacy and must give the person voting through
electronic or acceptable technological means the opportunity
to cast votes for candidates whose names do not appear on the
ballot. The board rules shall provide and the instructions
provided to the member shall state that a member who submits a
vote using electronic or acceptable technological means may
request and cast a ballot in person at the election meeting,
and thereby void any vote previously submitted by that member.
(j) Upon proof of purchase, the purchaser of a unit from a
seller other than the developer pursuant to an installment
contract for purchase shall, during such times as he or she
resides in the unit, be counted toward a quorum for purposes of
election of members of the board at any meeting of the
membership called for purposes of electing members of the
board, shall have the right to vote for the members of the
board of the common interest community association and to be
elected to and serve on the board unless the seller expressly
retains in writing any or all of such rights.
(Source: P.A. 97-605, eff. 8-26-11; 97-1090, eff. 8-24-12;
98-1042, eff. 1-1-15.)
(765 ILCS 160/1-30)
Sec. 1-30. Board duties and obligations; records.
(a) The board shall meet at least 4 times annually.
(b) A common interest community association may not enter

into a contract with a current board member, or with a
corporation, limited liability company, or partnership in
which a board member or a member of his or her immediate family
has 25% or more interest, unless notice of intent to enter into
the contract is given to members within 20 days after a
decision is made to enter into the contract and the members are
afforded an opportunity by filing a petition, signed by 20% of
the membership, for an election to approve or disapprove the
contract; such petition shall be filed within 20 days after
such notice and such election shall be held within 30 days
after filing the petition. For purposes of this subsection, a
board member's immediate family means the board member's
spouse, parents, siblings, and children.
(c) The bylaws or operating agreement shall provide for the
maintenance, repair, and replacement of the common areas and
payments therefor, including the method of approving payment
vouchers.
(d) (Blank).
(e) The association may engage the services of a manager or
management company.
(f) The association shall have one class of membership
unless the declaration, or bylaws, or operating agreement
provide otherwise; however, this subsection (f) shall not be
construed to limit the operation of subsection (c) of Section
1-20 of this Act.
(g) The board shall have the power, after notice and an

opportunity to be heard, to levy and collect reasonable fines
from members or unit owners for violations of the declaration,
bylaws, operating agreement, and rules and regulations of the
common interest community association.
(h) Other than attorney's fees and court or arbitration
costs, no fees pertaining to the collection of a member's or
unit owner's financial obligation to the association,
including fees charged by a manager or managing agent, shall be
added to and deemed a part of a member's or unit owner's
respective share of the common expenses unless: (i) the
managing agent fees relate to the costs to collect common
expenses for the association; (ii) the fees are set forth in a
contract between the managing agent and the association; and
(iii) the authority to add the management fees to a member's or
unit owner's respective share of the common expenses is
specifically stated in the declaration, or bylaws, or operating
agreement of the association.
(i) Board records.
(1) The board shall maintain the following records of
the association and make them available for examination and
copying at convenient hours of weekdays by any member or
unit owner in a common interest community subject to the
authority of the board, their mortgagees, and their duly
authorized agents or attorneys:
(i) Copies of the recorded declaration, other
community instruments, other duly recorded covenants

and bylaws and any amendments, articles of
incorporation, articles of organization, annual
reports, and any rules and regulations adopted by the
board shall be available. Prior to the organization of
the board, the developer shall maintain and make
available the records set forth in this paragraph (i)
for examination and copying.
(ii) Detailed and accurate records in
chronological order of the receipts and expenditures
affecting the common areas, specifying and itemizing
the maintenance and repair expenses of the common areas
and any other expenses incurred, and copies of all
contracts, leases, or other agreements entered into by
the board shall be maintained.
(iii) The minutes of all meetings of the board
which shall be maintained for not less than 7 years.
(iv) With a written statement of a proper purpose,
ballots and proxies related thereto, if any, for any
election held for the board and for any other matters
voted on by the members, which shall be maintained for
not less than one year.
(v) With a written statement of a proper purpose,
such other records of the board as are available for
inspection by members of a not-for-profit corporation
pursuant to Section 107.75 of the General Not For
Profit Corporation Act of 1986 shall be maintained.

(vi) With respect to units owned by a land trust, a
living trust, or other legal entity, the trustee,
officer, or manager of the entity may designate, in
writing, a person to cast votes on behalf of the member
or unit owner and a designation shall remain in effect
until a subsequent document is filed with the
association.
(2) Where a request for records under this subsection
is made in writing to the board or its agent, failure to
provide the requested record or to respond within 30 days
shall be deemed a denial by the board.
(3) A reasonable fee may be charged by the board for
the cost of retrieving and copying records properly
requested.
(4) If the board fails to provide records properly
requested under paragraph (1) of this subsection (i) within
the time period provided in that paragraph (1), the member
may seek appropriate relief and shall be entitled to an
award of reasonable attorney's fees and costs if the member
prevails and the court finds that such failure is due to
the acts or omissions of the board of managers or the board
of directors.
(j) The board shall have standing and capacity to act in a
representative capacity in relation to matters involving the
common areas or more than one unit, on behalf of the members or
unit owners as their interests may appear.

(Source: P.A. 97-605, eff. 8-26-11; 97-1090, eff. 8-24-12;
98-232, eff. 1-1-14; 98-241, eff. 8-9-13; 98-756, eff.
7-16-14.)
(765 ILCS 160/1-50)
Sec. 1-50. Administration of property prior to election of
the initial board of directors.
(a) Until the election of the initial board whose
declaration is recorded on or after the effective date of this
Act, the same rights, titles, powers, privileges, trusts,
duties, and obligations that are vested in or imposed upon the
board by this Act or in the declaration or other duly recorded
covenant shall be held and performed by the developer.
(b) The election of the initial board, whose declaration is
recorded on or after the effective date of this Act, shall be
held not later than 60 days after the conveyance by the
developer of 75% of the units, or 3 years after the recording
of the declaration, whichever is earlier. The developer shall
give at least 21 days' notice of the meeting to elect the
initial board of directors and shall upon request provide to
any member, within 3 working days of the request, the names,
addresses, and weighted vote of each member entitled to vote at
the meeting. Any member shall, upon receipt of the request, be
provided with the same information, within 10 days after the
request, with respect to each subsequent meeting to elect
members of the board of directors.

(c) If the initial board of a common interest community
association whose declaration is recorded on or after the
effective date of this Act is not elected by the time
established in subsection (b), the developer shall continue in
office for a period of 30 days, whereupon written notice of his
or her resignation shall be sent to all of the unit owners or
members.
(d) Within 60 days following the election of a majority of
the board, other than the developer, by members, the developer
shall deliver to the board:
(1) All original documents as recorded or filed
pertaining to the property, its administration, and the
association, such as the declaration, articles of
incorporation, articles of organization, other
instruments, annual reports, minutes, rules and
regulations, and contracts, leases, or other agreements
entered into by the association. If any original documents
are unavailable, a copy may be provided if certified by
affidavit of the developer, or an officer or agent of the
developer, as being a complete copy of the actual document
recorded or filed.
(2) A detailed accounting by the developer, setting
forth the source and nature of receipts and expenditures in
connection with the management, maintenance, and operation
of the property, copies of all insurance policies, and a
list of any loans or advances to the association which are

outstanding.
(3) Association funds, which shall have been at all
times segregated from any other moneys of the developer.
(4) A schedule of all real or personal property,
equipment, and fixtures belonging to the association,
including documents transferring the property, warranties,
if any, for all real and personal property and equipment,
deeds, title insurance policies, and all tax bills.
(5) A list of all litigation, administrative action,
and arbitrations involving the association, any notices of
governmental bodies involving actions taken or which may be
taken concerning the association, engineering and
architectural drawings and specifications as approved by
any governmental authority, all other documents filed with
any other governmental authority, all governmental
certificates, correspondence involving enforcement of any
association requirements, copies of any documents relating
to disputes involving members or unit owners, and originals
of all documents relating to everything listed in this
paragraph.
(6) If the developer fails to fully comply with this
subsection (d) within the 60 days provided and fails to
fully comply within 10 days after written demand mailed by
registered or certified mail to his or her last known
address, the board may bring an action to compel compliance
with this subsection (d). If the court finds that any of

the required deliveries were not made within the required
period, the board shall be entitled to recover its
reasonable attorney's fees and costs incurred from and
after the date of expiration of the 10-day demand.
(e) With respect to any common interest community
association whose declaration is recorded on or after the
effective date of this Act, any contract, lease, or other
agreement made prior to the election of a majority of the board
other than the developer by or on behalf of members or
underlying common interest community association, the
association or the board, which extends for a period of more
than 2 years from the recording of the declaration, shall be
subject to cancellation by more than one-half of the votes of
the members, other than the developer, cast at a special
meeting of members called for that purpose during a period of
90 days prior to the expiration of the 2-year period if the
board is elected by the members, otherwise by more than
one-half of the underlying common interest community
association board. At least 60 days prior to the expiration of
the 2-year period, the board or, if the board is still under
developer control, the developer shall send notice to every
member notifying them of this provision, of what contracts,
leases, and other agreements are affected, and of the procedure
for calling a meeting of the members or for action by the board
for the purpose of acting to terminate such contracts, leases
or other agreements. During the 90-day period the other party

to the contract, lease, or other agreement shall also have the
right of cancellation.
(f) The statute of limitations for any actions in law or
equity that the board may bring shall not begin to run until
the members have elected a majority of the members of the
board.
(Source: P.A. 96-1400, eff. 7-29-10; 97-1090, eff. 8-24-12.)
Section 99. Effective date. This Act takes effect upon
becoming law.