SB3537 98TH GENERAL ASSEMBLY

LRB098 15771 HEP 50803 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB3537

Introduced 2/14/2014, by Sen. Michael E. Hastings

SYNOPSIS AS INTRODUCED:

765 ILCS 160/1-75

Amends the Common Interest Community Association Act. Provides that a common interest community association meeting specified criteria is exempt from the Act if the association affirmatively elects to be exempt from the Act by a majority vote of all of its members (instead of "unless the association affirmatively elects to be covered by this Act by a majority of its directors or members").

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 Common Interest Community Association Act is amended by changing Section 1-75 as follows:

(765 ILCS 160/1-75)

Sec. 1-75. Exemptions for small common interest communities.

(a) A common interest community association organized under the General Not for Profit Corporation Act of 1986 and having either (i) 10 units or less or (ii) annual budgeted assessments of $100,000 or less shall be exempt from this Act if unless the association affirmatively elects to be exempt from covered by this Act by a majority vote of all of its directors or members.

(b) Common interest community associations which in their declaration, bylaws, or other governing documents provide that the association may not use the courts or an arbitration process to collect or enforce assessments, fines, or similar levies and common interest community associations (i) of 10 units or less or (ii) having annual budgeted assessments of $50,000 or less shall be exempt from subsection (a) of Section 1-30, subsections (a) and (b) of Section 1-40, and Section 1-55 but shall be required to provide notice of meetings to members in a manner and at a time that will allow members to participate in those meetings.

(Source: P.A. 96-1400, eff. 7-29-10; 97-605, eff. 8-26-11; 97-1090, eff. 8-24-12.)