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| Public Act 098-0842 | ||||
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AN ACT concerning civil law.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Common Interest Community Association Act is | ||||
amended by changing Section 1-35 as follows: | ||||
(765 ILCS 160/1-35)
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Sec. 1-35. Member powers, duties, and obligations. | ||||
(a) The provisions of this Act, the declaration, bylaws, | ||||
other community instruments, and rules and regulations that | ||||
relate to the use of an individual unit or the common areas | ||||
shall be applicable to any person leasing a unit and shall be | ||||
deemed to be incorporated in any lease executed or renewed on | ||||
or after the effective date of this Act. Unless otherwise | ||||
provided in the community instruments, with With regard to any | ||||
lease entered into subsequent to the effective date of this | ||||
Act, the unit owner leasing the unit shall deliver a copy of | ||||
the signed lease to the association or if the lease is oral, a | ||||
memorandum of the lease, not later than the date of occupancy | ||||
or 10 days after the lease is signed, whichever occurs first. | ||||
(b) If there are multiple owners of a single unit, only one | ||||
of the multiple owners shall be eligible to serve as a member | ||||
of the board at any one time, unless the unit owner owns | ||||
another unit independently. | ||||
(c) Two-thirds of the membership may remove a board member | ||
as a director at a duly called special meeting. | ||
(d) In the event of any resale of a unit in a common | ||
interest community association by a member or unit owner other | ||
than the developer, the board shall make available for | ||
inspection to the prospective purchaser, upon demand, the | ||
following:
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(1) A copy of the declaration, other instruments, and | ||
any rules and regulations.
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(2) A statement of any liens, including a statement of | ||
the account of the unit setting forth the amounts of unpaid | ||
assessments and other charges due and owing.
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(3) A statement of any capital expenditures | ||
anticipated by the association within the current or | ||
succeeding 2 fiscal years.
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(4) A statement of the status and amount of any reserve | ||
or replacement fund and any other fund specifically | ||
designated for association projects.
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(5) A copy of the statement of financial condition of | ||
the association for the last fiscal year for which such a | ||
statement is available.
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(6) A statement of the status of any pending suits or | ||
judgments in which the association is a party.
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(7) A statement setting forth what insurance coverage | ||
is provided for all members or unit owners by the | ||
association for common properties.
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The principal officer of the board or such other officer as | ||
is specifically designated shall furnish the above information | ||
within 30 days after receiving a written request for such | ||
information. | ||
A reasonable fee covering the direct out-of-pocket cost of | ||
copying and providing such information may be charged by the | ||
association or the board to the unit seller for providing the | ||
information.
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(Source: P.A. 96-1400, eff. 7-29-10; 97-605, eff. 8-26-11; | ||
97-1090, eff. 8-24-12.)
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