HB6708 95TH GENERAL ASSEMBLY

LRB095 21863 AJO 52113 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB6708

Introduced , by Rep. LaShawn K. Ford

SYNOPSIS AS INTRODUCED:

765 ILCS 605/22.2 new

Amends the Condominium Property Act. Provides that in the event of a sale of a condominium unit by a unit owner, no condominium association shall exercise any right of refusal, option to purchase, or right to disapprove the sale, on the basis of the type of financing used by the purchaser.

A BILL FOR

AN ACT concerning civil law.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Condominium Property Act is amended by adding Section 22.2 as follows:

(765 ILCS 605/22.2 new)

Sec. 22.2. Resale approval. In the event of a sale of a condominium unit by a unit owner, no condominium association shall exercise any right of refusal, option to purchase, or right to disapprove the sale, on the basis of the type of financing used by the purchaser.