| |||||||
| |||||||
| |||||||
| 1 | AN ACT concerning civil law.
| ||||||
| 2 | Be it enacted by the People of the State of Illinois,
| ||||||
| 3 | represented in the General Assembly:
| ||||||
| 4 | Section 5. The Common Interest Community Association Act is | ||||||
| 5 | amended by changing Section 1-35 as follows: | ||||||
| 6 | (765 ILCS 160/1-35)
| ||||||
| 7 | Sec. 1-35. Member powers, duties, and obligations. | ||||||
| 8 | (a) The provisions of this Act, the declaration, bylaws, | ||||||
| 9 | other community instruments, and rules and regulations that | ||||||
| 10 | relate to the use of an individual unit or the common areas | ||||||
| 11 | shall be applicable to any person leasing a unit and shall be | ||||||
| 12 | deemed to be incorporated in any lease executed or renewed on | ||||||
| 13 | or after the effective date of this Act. Unless otherwise | ||||||
| 14 | provided in the community instruments, with With regard to any | ||||||
| 15 | lease entered into subsequent to the effective date of this | ||||||
| 16 | Act, the unit owner leasing the unit shall deliver a copy of | ||||||
| 17 | the signed lease to the association or if the lease is oral, a | ||||||
| 18 | memorandum of the lease, not later than the date of occupancy | ||||||
| 19 | or 10 days after the lease is signed, whichever occurs first. | ||||||
| 20 | (b) If there are multiple owners of a single unit, only one | ||||||
| 21 | of the multiple owners shall be eligible to serve as a member | ||||||
| 22 | of the board at any one time, unless the unit owner owns | ||||||
| 23 | another unit independently. | ||||||
| |||||||
| |||||||
| 1 | (c) Two-thirds of the membership may remove a board member | ||||||
| 2 | as a director at a duly called special meeting. | ||||||
| 3 | (d) In the event of any resale of a unit in a common | ||||||
| 4 | interest community association by a member or unit owner other | ||||||
| 5 | than the developer, the board shall make available for | ||||||
| 6 | inspection to the prospective purchaser, upon demand, the | ||||||
| 7 | following:
| ||||||
| 8 | (1) A copy of the declaration, other instruments, and | ||||||
| 9 | any rules and regulations.
| ||||||
| 10 | (2) A statement of any liens, including a statement of | ||||||
| 11 | the account of the unit setting forth the amounts of unpaid | ||||||
| 12 | assessments and other charges due and owing.
| ||||||
| 13 | (3) A statement of any capital expenditures | ||||||
| 14 | anticipated by the association within the current or | ||||||
| 15 | succeeding 2 fiscal years.
| ||||||
| 16 | (4) A statement of the status and amount of any reserve | ||||||
| 17 | or replacement fund and any other fund specifically | ||||||
| 18 | designated for association projects.
| ||||||
| 19 | (5) A copy of the statement of financial condition of | ||||||
| 20 | the association for the last fiscal year for which such a | ||||||
| 21 | statement is available.
| ||||||
| 22 | (6) A statement of the status of any pending suits or | ||||||
| 23 | judgments in which the association is a party.
| ||||||
| 24 | (7) A statement setting forth what insurance coverage | ||||||
| 25 | is provided for all members or unit owners by the | ||||||
| 26 | association for common properties.
| ||||||
| |||||||
| |||||||
| 1 | The principal officer of the board or such other officer as | ||||||
| 2 | is specifically designated shall furnish the above information | ||||||
| 3 | within 30 days after receiving a written request for such | ||||||
| 4 | information. | ||||||
| 5 | A reasonable fee covering the direct out-of-pocket cost of | ||||||
| 6 | copying and providing such information may be charged by the | ||||||
| 7 | association or the board to the unit seller for providing the | ||||||
| 8 | information.
| ||||||
| 9 | (Source: P.A. 96-1400, eff. 7-29-10; 97-605, eff. 8-26-11; | ||||||
| 10 | 97-1090, eff. 8-24-12.)
| ||||||