IL SB2112 | 2009-2010 | 96th General Assembly
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on August 25 2009 - 100% progression
Action: 2009-08-25 - Public Act . . . . . . . . . 96-0738
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on August 25 2009 - 100% progression
Action: 2009-08-25 - Public Act . . . . . . . . . 96-0738
Text: Latest bill text (Enrolled) [HTML]
Summary
Amends the Real Estate Timeshare Act of 1999. Provides a description of the Act's scope. Provides that a resale agent is a person who for another and for compensation, or with the intention or expectation of receiving compensation, either directly or indirectly, sells or offers to sell (instead of directly or through an employee or agent sells or offers to sell a timeshare). Provides definition of "managing entity lien". Provides that the minimum requirements of a timeshare sale listing agreement include the use, rental, or exchange of the unit while listed; designation of any rental fees recipient; disclosure of any relationship between the resale agent and any person receiving a benefit from use of the timeshare; any pre-sale fees; the resale agent's prior experience; commissions; and other items (instead of requiring only disclosure of the resale agent's compensation, certain terms of the use or rental of the timeshare, and the length of the term of the listing contract). Provides for disclosures, in addition to those required, to a prospective purchaser of a timeshare that include the status of assessments and real estate or personal property taxes and the location of documents about the timeshare. Provides that a timeshare resale agent shall be a licensed real estate broker unless exempt from licensure by the Real Estate License Act of 2000 or because of selling no more than 8 timeshares per year. Provides for a managing entity lien. Provides procedures, including notices and auctions, for the nonjudicial foreclosure against time share estates and the foreclosure of a lien or security interest on a timeshare use under the Act or under the Uniform Commercial Code. Repeals certain provisions of existing law regarding resale agent registration requirements. Makes other changes. Provides for severability of the amendatory provisions. Effective immediately.
Title
REAL ESTATE TIMESHARE
Sponsors
Roll Calls
2009-05-29 - Senate - Concurrence in Senate (Y: 52 N: 0 NV: 2 Abs: 0) [PASS]
2009-05-29 - Senate - Concurrence in Senate (Y: 52 N: 0 NV: 2 Abs: 0) [PASS]
2009-05-19 - House - Third Reading in House (Y: 113 N: 0 NV: 4 Abs: 0) [PASS]
2009-04-01 - Senate - Third Reading in Senate (Y: 54 N: 0 NV: 0 Abs: 0) [PASS]
2009-05-29 - Senate - Concurrence in Senate (Y: 52 N: 0 NV: 2 Abs: 0) [PASS]
2009-05-19 - House - Third Reading in House (Y: 113 N: 0 NV: 4 Abs: 0) [PASS]
2009-04-01 - Senate - Third Reading in Senate (Y: 54 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2009-08-25 | Public Act . . . . . . . . . 96-0738 | |
| 2009-08-25 | Effective Date August 25, 2009 | |
| 2009-08-25 | Governor Approved | |
| 2009-06-26 | Sent to the Governor | |
| 2009-05-29 | Passed Both Houses | |
| 2009-05-29 | House Floor Amendment No. 2 Senate Concurs 057-000-000 | |
| 2009-05-29 | House Committee Amendment No. 1 Senate Concurs 057-000-000 | |
| 2009-05-28 | House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Judiciary; 006-000-000 | |
| 2009-05-28 | House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Judiciary; 006-000-000 | |
| 2009-05-27 | House Floor Amendment No. 2 Motion to Concur Assignments Referred to Judiciary | |
| 2009-05-27 | House Committee Amendment No. 1 Motion to Concur Assignments Referred to Judiciary | |
| 2009-05-26 | House Floor Amendment No. 2 Motion to Concur Referred to Assignments | |
| 2009-05-26 | House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Don Harmon | |
| 2009-05-26 | House Committee Amendment No. 1 Motion to Concur Referred to Assignments | |
| 2009-05-26 | House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Don Harmon | |
| 2009-05-19 | Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 20, 2009 | |
| 2009-05-19 | Secretary's Desk - Concurrence House Amendment(s) 1, 2 | |
| 2009-05-19 | Third Reading - Short Debate - Passed 113-000-000 | |
| 2009-05-18 | Placed on Calendar Order of 3rd Reading - Short Debate | |
| 2009-05-18 | House Floor Amendment No. 2 Adopted by Voice Vote | |
| 2009-05-18 | Recalled to Second Reading - Short Debate | |
| 2009-05-18 | Placed on Calendar Order of 3rd Reading - Short Debate | |
| 2009-05-18 | Second Reading - Short Debate | |
| 2009-05-18 | House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000 | |
| 2009-05-14 | House Floor Amendment No. 2 Referred to Rules Committee | |
| 2009-05-14 | House Floor Amendment No. 2 Filed with Clerk by Rep. Dan Reitz | |
| 2009-05-06 | Placed on Calendar 2nd Reading - Short Debate | |
| 2009-05-06 | Do Pass as Amended / Short Debate Judiciary I - Civil Law Committee; 015-000-000 | |
| 2009-05-06 | House Committee Amendment No. 1 Adopted in Judiciary I - Civil Law Committee; by Voice Vote | |
| 2009-05-06 | House Committee Amendment No. 1 Filed with Clerk by Judiciary I - Civil Law Committee | |
| 2009-04-21 | Added Alternate Co-Sponsor Rep. Franco Coladipietro | |
| 2009-04-20 | Assigned to Judiciary I - Civil Law Committee | |
| 2009-04-02 | Referred to Rules Committee | |
| 2009-04-02 | First Reading | |
| 2009-04-02 | Chief House Sponsor Rep. Dan Reitz | |
| 2009-04-02 | Placed on Calendar Order of First Reading | |
| 2009-04-02 | Arrived in House | |
| 2009-04-01 | Third Reading - Passed; 059-000-000 | |
| 2009-03-30 | Placed on Calendar Order of 3rd Reading March 31, 2009 | |
| 2009-03-30 | Second Reading | |
| 2009-03-19 | Added as Chief Co-Sponsor Sen. Kirk W. Dillard | |
| 2009-03-11 | Placed on Calendar Order of 2nd Reading March 12, 2009 | |
| 2009-03-11 | Do Pass Judiciary; 011-000-000 | |
| 2009-03-10 | Added as Chief Co-Sponsor Sen. Michael Noland | |
| 2009-03-04 | Assigned to Judiciary | |
| 2009-02-26 | Added as Chief Co-Sponsor Sen. A. J. Wilhelmi | |
| 2009-02-20 | Referred to Assignments | |
| 2009-02-20 | First Reading | |
| 2009-02-20 | Filed with Secretary by Sen. Don Harmon |
