Illinois General Assembly - Full Text of Public Act 098-0842

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Public Act 098-0842

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Public Act 0842 98TH GENERAL ASSEMBLY

Public Act 098-0842

SB3057 Enrolled LRB098 19478 HEP 54650 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 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 ~~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.
    (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.
        (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
    association for common properties.
    The principal officer of the board or such other officer as
is specifically designated shall 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. 96-1400, eff. 7-29-10; 97-605, eff. 8-26-11;
97-1090, eff. 8-24-12.)

Effective Date: 1/1/2015

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