97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1114

 

Introduced 2/8/2011, by Sen. John J. Cullerton

 

SYNOPSIS AS INTRODUCED:
 
765 ILCS 710/1.1  from Ch. 80, par. 101.1

    Amends the Security Deposit Return Act. Makes a technical change in a Section concerning a transferee's liability for a security deposit.


LRB097 04829 AJO 44868 b

 

 

A BILL FOR

 

SB1114LRB097 04829 AJO 44868 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Security Deposit Return Act is amended by
5changing Section 1.1 as follows:
 
6    (765 ILCS 710/1.1)  (from Ch. 80, par. 101.1)
7    Sec. 1.1. In the the event of a sale, lease, transfer or
8other direct or indirect disposition of residential real
9property, other than to the holder of a lien interest in such
10property, by a lessor who has received a security deposit or
11prepaid rent from a lessee, the transferee of such property
12shall be liable to that lessee for any security deposit,
13including statutory interest, or prepaid rent which the lessee
14has paid to the transferor. Transferor shall remain jointly and
15severally liable with the transferee to the lessee for such
16security deposit or prepaid rent.
17(Source: P.A. 81-1525.)