Illinois General Assembly - Bill Status for SB2817

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Bill Status of SB2817 100th General Assembly

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Short Description: CONDO-WAIVER OF RESERVE

Senate Sponsors
Sen. Ira I. Silverstein

Last Action

Date	Chamber	Action
1/8/2013	Senate	Session Sine Die

Statutes Amended In Order of Appearance

765 ILCS 605/9

from Ch. 30, par. 309

Synopsis As Introduced
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.

Actions

Date	Chamber	Action
1/18/2012	Senate	Filed with Secretary by Sen. Ira I. Silverstein
1/18/2012	Senate	First Reading
1/18/2012	Senate	Referred to Assignments
1/31/2012	Senate	Assigned to Judiciary
2/7/2012	Senate	To Judiciary Subcommittee on Property and Environment
3/9/2012	Senate	Rule 2-10 Committee Deadline Established As March 30, 2012
3/30/2012	Senate	Rule 3-9(a) / Re-referred to Assignments
1/8/2013	Senate	Session Sine Die

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