Illinois General Assembly - Full Text of SB2358

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Full Text of SB2358 99th General Assembly

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Senate Amendment 001
Public Act
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SB2358sam001 99TH GENERAL ASSEMBLY
Sen. John G. Mulroe
Filed: 3/3/2016

09900SB2358sam001 LRB099 16667 HEP 45177 a

1 AMENDMENT TO SENATE BILL 2358
2     AMENDMENT NO. ______. Amend Senate Bill 2358 by replacing
3 everything after the enacting clause with the following:

4     "Section 5. The Common Interest Community Association Act
5 is amended by adding Section 1-47 as follows:

6     (765 ILCS 160/1-47 new)
7     Sec. 1-47. Successor developers. Any assignment of a
8 developer's interest in the property is not effective until the
9 successor: (i) obtains the assignment in writing; and (ii)
10 records the assignment.

11     Section 10. The Condominium Property Act is amended by
12 adding Section 9.5 as follows:

13     (765 ILCS 605/9.5 new)
14     Sec. 9.5. Successor developers. Any assignment of a

09900SB2358sam001 - 2 - LRB099 16667 HEP 45177 a

1 developer's interest in the property is not effective until the
2 successor: (i) obtains the assignment in writing; and (ii)
3 records the assignment.".

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