Bill Text: IL HB2844 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Condominium Property Act. Provides that the principal officer of the unit owners' association or such other officer as is specifically designated shall furnish specified information when requested to do so in writing and within 5 business days (rather than 30 days) of the request. Limits the fee covering the direct out-of-pocket cost of providing and copying the information to $100.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee [HB2844 Detail]
Download: Illinois-2019-HB2844-Introduced.html
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1 | AN ACT concerning civil law.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Condominium Property Act is amended by | |||||||||||||||||||
5 | changing Section 22.1 as follows:
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6 | (765 ILCS 605/22.1) (from Ch. 30, par. 322.1)
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7 | Sec. 22.1.
(a) In the event of any resale of a condominium | |||||||||||||||||||
8 | unit by a
unit owner other than the developer such owner shall | |||||||||||||||||||
9 | obtain from the Board
of Managers and shall make available for | |||||||||||||||||||
10 | inspection to the prospective
purchaser, upon demand, the | |||||||||||||||||||
11 | following:
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12 | (1) A copy of the Declaration, by-laws, other | |||||||||||||||||||
13 | condominium
instruments and any rules and regulations.
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14 | (2) A statement of any liens, including a statement of
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15 | the account of the unit setting forth the amounts of unpaid | |||||||||||||||||||
16 | assessments and
other charges due and owing as authorized | |||||||||||||||||||
17 | and limited by the provisions
of Section 9 of this Act or | |||||||||||||||||||
18 | the condominium instruments.
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19 | (3) A statement of any capital expenditures | |||||||||||||||||||
20 | anticipated by the unit
owner's association within the | |||||||||||||||||||
21 | current or succeeding two fiscal years.
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22 | (4) A statement of the status and amount of any reserve
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23 | for replacement fund and any portion of such fund earmarked |
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1 | for any
specified project by the Board of Managers.
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2 | (5) A copy of the statement of financial condition of | ||||||
3 | the unit owner's
association for the last fiscal year for | ||||||
4 | which such statement is available.
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5 | (6) A statement of the status of any pending suits or
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6 | judgments in which the unit owner's association is a party.
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7 | (7) A statement setting forth what insurance coverage | ||||||
8 | is
provided for all unit owners by the unit owner's | ||||||
9 | association.
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10 | (8) A statement that any improvements or alterations | ||||||
11 | made
to the unit, or the limited common elements assigned | ||||||
12 | thereto, by the prior
unit owner are in good faith believed | ||||||
13 | to be in compliance with the
condominium instruments.
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14 | (9) The identity and mailing address of the principal | ||||||
15 | officer of the
unit owner's association or of the other | ||||||
16 | officer or agent as is
specifically designated to receive | ||||||
17 | notices.
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18 | (b) The principal officer of the unit owner's association | ||||||
19 | or such other
officer as is specifically designated shall | ||||||
20 | furnish the above information
when requested to do so in | ||||||
21 | writing and within 5 business 30 days of the request.
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22 | (c) Within 15 days of the recording of a mortgage or trust | ||||||
23 | deed
against a unit ownership given by the owner of that unit | ||||||
24 | to secure a debt,
the owner shall inform the Board of Managers | ||||||
25 | of the unit owner's
association of the identity of the lender | ||||||
26 | together with a mailing address
at which the lender can receive |
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1 | notices from the association.
If a unit owner fails or refuses | ||||||
2 | to inform the Board as required under
subsection (c) then that | ||||||
3 | unit owner shall be liable to the association for
all costs, | ||||||
4 | expenses and reasonable attorney's attorneys fees and such | ||||||
5 | other damages,
if any, incurred by the association as a result | ||||||
6 | of such failure or refusal.
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7 | A reasonable fee , not to exceed $100, covering the direct | ||||||
8 | out-of-pocket cost of providing
such information and copying | ||||||
9 | may be charged by the association or its Board
of Managers to | ||||||
10 | the unit seller for providing such information.
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11 | (Source: P.A. 87-692.)
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