Illinois Senate Bill 2817 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Condominium Property Act. Deletes provisions stating that: (1) an association's waiver of reserve requirements for capital expenditures and deferred maintenance must be disclosed by the association after the meeting at which the waiver occurs in the financial statements of the association and in bold print in its responses to requests for information by certain prospective purchasers; and (2) members of the board of managers and the managing agent of an association are not liable for the lack or inadequacy of reserve funds in the association budget and no cause of action may be brought against them for damages for the lack or inadequacy of reserve funds.

CONDO-WAIVER OF RESERVE

Sen. Ira Silverstein [D]

Date	Chamber	Action
2013-01-08	Senate	Session Sine Die
2012-03-30	Senate	Rule 3-9(a) / Re-referred to Assignments
2012-03-09	Senate	Rule 2-10 Committee Deadline Established As March 30, 2012
2012-02-07	Senate	To Judiciary Subcommittee on Property and Environment
2012-01-31	Senate	Assigned to Judiciary
2012-01-18	Senate	Referred to Assignments
2012-01-18	Senate	First Reading
2012-01-18	Senate	Filed with Secretary by Sen. Ira I. Silverstein

Chapter	Article	Section	Citation Type	Statute Text
765	605	9	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2817&GAID=11&DocTypeID=SB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/SB/09700SB2817.htm