SB1114 97TH GENERAL ASSEMBLY

LRB097 04829 AJO 44868 b

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.

A BILL FOR

AN ACT concerning civil law.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Security Deposit Return Act is amended by changing Section 1.1 as follows:

(765 ILCS 710/1.1) (from Ch. 80, par. 101.1)

Sec. 1.1. In the the event of a sale, lease, transfer or other direct or indirect disposition of residential real property, other than to the holder of a lien interest in such property, by a lessor who has received a security deposit or prepaid rent from a lessee, the transferee of such property shall be liable to that lessee for any security deposit, including statutory interest, or prepaid rent which the lessee has paid to the transferor. Transferor shall remain jointly and severally liable with the transferee to the lessee for such security deposit or prepaid rent.

(Source: P.A. 81-1525.)