Amendment vs bill Senate Amendment 003 vs Enrolled

Struck = removed from the bill ยท added = the amendment's new text.

Previous
Latest
HB5449 Enrolled LRB104 18328 JRC 31768 b AN ACT concerning civil law.
*LRB10418328JRC37815a* Sen.
Be it enacted by the People of the State of Illinois, represented in the General Assembly:
Robert F.
Section 5.
Martwick Filed:
5/14/2026 10400HB5449sam003 LRB104 18328 JRC 37815 a AMENDMENT TO HOUSE BILL 5449 AMENDMENT NO.
______.
Amend House Bill 5449 by replacing everything after the enacting clause with the following:
"Section 5.
(b) A common interest community association may not enter into a contract with a current board member, or with a corporation, limited liability company, or partnership in which a board member or a member of his or her immediate family has 25% or more interest, unless notice of intent to enter into the contract is given to members within 20 days after a decision is made to enter into the contract and the members are afforded an opportunity by filing a petition, signed by 20% of the membership, for an election to approve or disapprove the contract;
(b) A common interest community association may not enter into a contract with a current board member, or with a corporation, limited liability company, or partnership in which a board member or a member of his or her immediate family has 25% or more interest, unless notice of intent to enter into the contract is given to members within 20 days after a decision is made to enter into the contract and the members are afforded an opportunity by filing a petition, signed by 20% of 10400HB5449sam003 -2- LRB104 18328 JRC 37815 a the membership, for an election to approve or disapprove the contract;
(c) The bylaws or operating agreement shall provide for HB5449 Enrolled - 2 - LRB104 18328 JRC 31768 b the maintenance, repair, and replacement of the common areas and payments therefor, including the method of approving payment vouchers.
(c) The bylaws or operating agreement shall provide for the maintenance, repair, and replacement of the common areas and payments therefor, including the method of approving payment vouchers.
(h) Other than attorney's fees and court or arbitration costs, no fees pertaining to the collection of a member's or unit owner's financial obligation to the association, including fees charged by a manager or managing agent, shall be added to and deemed a part of a member's or unit owner's respective share of the common expenses unless:
(h) Other than attorney's fees and court or arbitration costs, no fees pertaining to the collection of a member's or unit owner's financial obligation to the association, 10400HB5449sam003 -3- LRB104 18328 JRC 37815 a including fees charged by a manager or managing agent, shall be added to and deemed a part of a member's or unit owner's respective share of the common expenses unless:
and (iii) the authority to add the management fees to a member's or HB5449 Enrolled - 3 - LRB104 18328 JRC 31768 b unit owner's respective share of the common expenses is specifically stated in the declaration, bylaws, or operating agreement of the association.
and (iii) the authority to add the management fees to a member's or unit owner's respective share of the common expenses is specifically stated in the declaration, bylaws, or operating agreement of the association.
(ii) Detailed and accurate records in chronological order of the receipts and expenditures affecting the common areas, specifying and itemizing the maintenance and repair expenses of the common areas and any other expenses incurred, and copies of all contracts, leases, or other agreements entered into by the board shall be maintained.
10400HB5449sam003 -4- LRB104 18328 JRC 37815 a (ii) Detailed and accurate records in chronological order of the receipts and expenditures affecting the common areas, specifying and itemizing the maintenance and repair expenses of the common areas and any other expenses incurred, and copies of all contracts, leases, or other agreements entered into by the board shall be maintained.
HB5449 Enrolled - 4 - LRB104 18328 JRC 31768 b (iii) The minutes of all meetings of the board which shall be maintained for not less than 7 years.
(iii) The minutes of all meetings of the board which shall be maintained for not less than 7 years.
(vii) Any reserve study.
10400HB5449sam003 -5- LRB104 18328 JRC 37815 a (vii) Any reserve study.
(3) A reasonable fee may be charged by the board for the cost of retrieving and copying records properly HB5449 Enrolled - 5 - LRB104 18328 JRC 31768 b requested.
(3) A reasonable fee may be charged by the board for the cost of retrieving and copying records properly requested.
Any such purchases shall be included in the board's finance report as outlined in Section 1-45.
Any such purchases shall be included in the board's finance report as outlined in Section 10400HB5449sam003 -6- LRB104 18328 JRC 37815 a 1-45.
1-1-24.) HB5449 Enrolled - 6 - LRB104 18328 JRC 31768 b (765 ILCS 160/1-45) Sec.
1-1-24.) (765 ILCS 160/1-45) Sec.
The board shall (i) make available for review to all members an itemized accounting of the common expenses for the preceding year actually incurred or paid, together with an indication of which portions were for reserves, capital expenditures or repairs or payment of real estate taxes and with a tabulation of the amounts collected pursuant to the budget or assessment, and showing the net excess or deficit of income over expenditures plus reserves or (ii) provide a consolidated annual independent audit report of the financial status of all fund accounts within the association.
The board shall (i) make available for review to all members an itemized accounting of the common expenses for the preceding year actually incurred or paid, together with an indication of which portions were for reserves, capital expenditures or repairs or payment of real estate taxes and with a tabulation of the amounts collected pursuant to the budget or assessment, and showing the net excess or deficit of income over expenditures plus reserves or (ii) provide a consolidated 10400HB5449sam003 -7- LRB104 18328 JRC 37815 a annual independent audit report of the financial status of all fund accounts within the association.
(c) If an adopted budget or any separate assessment HB5449 Enrolled - 7 - LRB104 18328 JRC 31768 b adopted by the board would result in the sum of all regular and separate assessments payable in the current fiscal year exceeding 115% of the sum of all regular and separate assessments payable during the preceding fiscal year, the common interest community association, upon written petition by members with 20% of the votes of the association delivered to the board within 14 days of the board action, shall call a meeting of the members within 30 days of the date of delivery of the petition to consider the budget or separate assessment;
(c) If an adopted budget or any separate assessment adopted by the board would result in the sum of all regular and separate assessments payable in the current fiscal year exceeding 115% of the sum of all regular and separate assessments payable during the preceding fiscal year, the common interest community association, upon written petition by members with 20% of the votes of the association delivered to the board within 14 days of the board action, shall call a meeting of the members within 30 days of the date of delivery of the petition to consider the budget or separate assessment;
(e) Separate assessments for expenditures relating to emergencies or mandated by law may be adopted by the board without being subject to member approval or the provisions of subsection (c) or (f) of this Section.
(e) Separate assessments for expenditures relating to emergencies or mandated by law may be adopted by the board 10400HB5449sam003 -8- LRB104 18328 JRC 37815 a without being subject to member approval or the provisions of subsection (c) or (f) of this Section.
HB5449 Enrolled - 8 - LRB104 18328 JRC 31768 b (f) Assessments for additions and alterations to the common areas or to association-owned property not included in the adopted annual budget, shall be separately assessed and are subject to approval of a simple majority of the total members at a meeting called for that purpose.
(f) Assessments for additions and alterations to the common areas or to association-owned property not included in the adopted annual budget, shall be separately assessed and are subject to approval of a simple majority of the total members at a meeting called for that purpose.
(i) An association subject to this Act that consists of 100 or more units shall use generally accepted accounting principles in fulfilling any accounting obligations under this Act.
(i) An association subject to this Act that consists of 100 or more units shall use generally accepted accounting principles in fulfilling any accounting obligations under this 10400HB5449sam003 -9- LRB104 18328 JRC 37815 a Act.
318) HB5449 Enrolled - 9 - LRB104 18328 JRC 31768 b Sec.
318) Sec.
provided that the condominium instruments may not require that more than a majority of the board shall be comprised of unit owners who occupy their unit as their principal residence;
10400HB5449sam003 -10- LRB104 18328 JRC 37815 a provided that the condominium instruments may not require that more than a majority of the board shall be comprised of unit owners who occupy their unit as their principal residence;
HB5449 Enrolled - 10 - LRB104 18328 JRC 31768 b (4) the method of removal from office of members of the board;
(4) the method of removal from office of members of the board;
this information shall be supplied through electronic transmission to all members who have provided their information to the association and authorized the association to transmit such information by electronic transmission as provided in Section 18.4;
this 10400HB5449sam003 -11- LRB104 18328 JRC 37815 a information shall be supplied through electronic transmission to all members who have provided their information to the association and authorized the association to transmit such information by electronic transmission as provided in Section 18.4;
(8)(i) that each unit owner shall receive notice, in the same manner as is provided in this Act for membership HB5449 Enrolled - 11 - LRB104 18328 JRC 31768 b meetings, of any meeting of the board of managers concerning the adoption of the proposed annual budget and regular assessments pursuant thereto or to adopt a separate (special) assessment, (ii) that except as provided in subsection (iv) below, if an adopted budget or any separate assessment adopted by the board would result in the sum of all regular and separate assessments payable in the current fiscal year exceeding 115% of the sum of all regular and separate assessments payable during the preceding fiscal year, the board of managers, upon written petition by unit owners with 20 percent of the votes of the association delivered to the board within 21 days of the board action, shall call a meeting of the unit owners within 30 days of the date of delivery of the petition to consider the budget or separate assessment;
(8)(i) that each unit owner shall receive notice, in the same manner as is provided in this Act for membership meetings, of any meeting of the board of managers concerning the adoption of the proposed annual budget and regular assessments pursuant thereto or to adopt a separate (special) assessment, (ii) that except as provided in subsection (iv) below, if an adopted budget or any separate assessment adopted by the board would result in the sum of all regular and separate assessments payable in the current fiscal year exceeding 115% of the sum of all regular and separate assessments payable during the preceding fiscal year, the board of managers, upon written petition by unit owners with 20 percent of the votes of the association delivered to the board within 21 days of the board action, shall call a meeting of the unit owners within 30 days of the date of delivery of the petition to consider the budget or separate assessment;
unless a majority of the total votes of the unit owners are cast at the meeting to reject the budget or separate assessment, it is ratified, (iii) that any common expense not set forth in the budget or any increase in assessments over the amount adopted in the budget shall be separately assessed against all unit owners, (iv) that separate assessments for expenditures relating to emergencies or mandated by law may be adopted by the board of managers without being subject to unit owner approval or the provisions of item (ii) above or item (v) below.
unless a majority of the total votes of the unit owners are cast at the meeting to reject the budget or separate assessment, it is ratified, (iii) that any common expense not set forth in the budget or any increase in assessments over 10400HB5449sam003 -12- LRB104 18328 JRC 37815 a the amount adopted in the budget shall be separately assessed against all unit owners, (iv) that separate assessments for expenditures relating to emergencies or mandated by law may be adopted by the board of managers without being subject to unit owner approval or the provisions of item (ii) above or item (v) below.
As used herein, "emergency" means an immediate danger to the HB5449 Enrolled - 12 - LRB104 18328 JRC 31768 b structural integrity of the common elements or to the life, health, safety or property of the unit owners, (v) that assessments for additions and alterations to the common elements or to association-owned property not included in the adopted annual budget, shall be separately assessed and are subject to approval of two-thirds of the total votes of all unit owners, (vi) that the board of managers may adopt separate assessments payable over more than one fiscal year.
As used herein, "emergency" means an immediate danger to the structural integrity of the common elements or to the life, health, safety or property of the unit owners, (v) that assessments for additions and alterations to the common elements or to association-owned property not included in the adopted annual budget, shall be separately assessed and are subject to approval of two-thirds of the total votes of all unit owners, (vi) that the board of managers may adopt separate assessments payable over more than one fiscal year.
(i) discuss litigation when an action against or on behalf of the particular association has been filed and is pending in a court or administrative tribunal, or when the board of managers finds that such an action is probable or imminent, (ii) discuss the appointment, employment, engagement, or dismissal of an employee, independent contractor, agent, or other provider of goods and services, (iii) interview a potential employee, independent contractor, agent, or other provider of goods and services, (iv) discuss violations of rules HB5449 Enrolled - 13 - LRB104 18328 JRC 31768 b and regulations of the association, (v) discuss a unit owner's unpaid share of common expenses, or (vi) consult with the association's legal counsel;
(i) discuss litigation when an action against or on behalf of the particular association has been filed and is pending in a court or administrative 10400HB5449sam003 -13- LRB104 18328 JRC 37815 a tribunal, or when the board of managers finds that such an action is probable or imminent, (ii) discuss the appointment, employment, engagement, or dismissal of an employee, independent contractor, agent, or other provider of goods and services, (iii) interview a potential employee, independent contractor, agent, or other provider of goods and services, (iv) discuss violations of rules and regulations of the association, (v) discuss a unit owner's unpaid share of common expenses, or (vi) consult with the association's legal counsel;
(D) that notice of every meeting of the board of managers shall be given to every board member at least 48 hours prior thereto, unless the board member waives notice of the meeting pursuant to subsection (a) of Section 18.8;
(D) that notice of every meeting of the board of 10400HB5449sam003 -14- LRB104 18328 JRC 37815 a managers shall be given to every board member at least 48 hours prior thereto, unless the board member waives notice of the meeting pursuant to subsection (a) of Section 18.8;
and (E) that notice of every meeting of the board of managers shall be posted in entranceways, elevators, or other conspicuous places in the condominium at least 48 HB5449 Enrolled - 14 - LRB104 18328 JRC 31768 b hours prior to the meeting of the board of managers except where there is no common entranceway for 7 or more units, the board of managers may designate one or more locations in the proximity of these units where the notices of meetings shall be posted;
and (E) that notice of every meeting of the board of managers shall be posted in entranceways, elevators, or other conspicuous places in the condominium at least 48 hours prior to the meeting of the board of managers except where there is no common entranceway for 7 or more units, the board of managers may designate one or more locations in the proximity of these units where the notices of meetings shall be posted;
(11) that no member of the board or officer shall be elected for a term of more than 2 years, but that officers and board members may succeed themselves;
(11) that no member of the board or officer shall be elected for a term of more than 2 years, but that officers 10400HB5449sam003 -15- LRB104 18328 JRC 37815 a and board members may succeed themselves;
(13) the method of filling vacancies on the board which shall include authority for the remaining members of HB5449 Enrolled - 15 - LRB104 18328 JRC 31768 b the board to fill the vacancy by two-thirds vote until the next annual meeting of unit owners or for a period terminating no later than 30 days following the filing of a petition signed by unit owners holding 20% of the votes of the association requesting a meeting of the unit owners to fill the vacancy for the balance of the term, and that a meeting of the unit owners shall be called for purposes of filling a vacancy on the board no later than 30 days following the filing of a petition signed by unit owners holding 20% of the votes of the association requesting such a meeting, and the method of filling vacancies among the officers that shall include the authority for the members of the board to fill the vacancy for the unexpired portion of the term;
(13) the method of filling vacancies on the board which shall include authority for the remaining members of the board to fill the vacancy by two-thirds vote until the next annual meeting of unit owners or for a period terminating no later than 30 days following the filing of a petition signed by unit owners holding 20% of the votes of the association requesting a meeting of the unit owners to fill the vacancy for the balance of the term, and that a meeting of the unit owners shall be called for purposes of filling a vacancy on the board no later than 30 days following the filing of a petition signed by unit owners holding 20% of the votes of the association requesting such a meeting, and the method of filling vacancies among the officers that shall include the authority for the members of the board to fill the vacancy for the unexpired portion of the term;
(16) the board of managers may not enter into a contract with a current board member or with a corporation or partnership in which a board member or a member of the board member's immediate family has 25% or more interest, unless notice of intent to enter the contract is given to unit owners within 20 days after a decision is made to enter into the contract and the unit owners are afforded an opportunity by filing a petition, signed by 20% of the HB5449 Enrolled - 16 - LRB104 18328 JRC 31768 b unit owners, for an election to approve or disapprove the contract;
(16) the board of managers may not enter into a 10400HB5449sam003 -16- LRB104 18328 JRC 37815 a contract with a current board member or with a corporation or partnership in which a board member or a member of the board member's immediate family has 25% or more interest, unless notice of intent to enter the contract is given to unit owners within 20 days after a decision is made to enter into the contract and the unit owners are afforded an opportunity by filing a petition, signed by 20% of the unit owners, for an election to approve or disapprove the contract;
(18) any proxy distributed for board elections by the board of managers gives unit owners the opportunity to designate any person as the proxy holder, and gives the unit owner the opportunity to express a preference for any of the known candidates for the board or to write in a name;
(18) any proxy distributed for board elections by the board of managers gives unit owners the opportunity to designate any person as the proxy holder, and gives the unit owner the opportunity to express a preference for any of the known candidates for the board or to write in a 10400HB5449sam003 -17- LRB104 18328 JRC 37815 a name;
(20) that the board of managers may establish and maintain a system of master metering of public utility services and collect payments in connection therewith, HB5449 Enrolled - 17 - LRB104 18328 JRC 31768 b subject to the requirements of the Tenant Utility Payment Disclosure Act;
(20) that the board of managers may establish and maintain a system of master metering of public utility services and collect payments in connection therewith, subject to the requirements of the Tenant Utility Payment Disclosure Act;
(b)(1) What percentage of the unit owners, if other than 20%, shall constitute a quorum provided that, for condominiums with 20 or more units, the percentage of unit owners constituting a quorum shall be 20% unless the unit owners holding a majority of the percentage interest in the association provide for a higher percentage, provided that in voting on amendments to the association's bylaws, a unit owner who is in arrears on the unit owner's regular or separate assessments for 60 days or more, shall not be counted for purposes of determining if a quorum is present, but that unit owner retains the right to vote on amendments to the association's bylaws;
(b)(1) What percentage of the unit owners, if other than 20%, shall constitute a quorum provided that, for condominiums with 20 or more units, the percentage of unit owners constituting a quorum shall be 20% unless the unit owners holding a majority of the percentage interest in 10400HB5449sam003 -18- LRB104 18328 JRC 37815 a the association provide for a higher percentage, provided that in voting on amendments to the association's bylaws, a unit owner who is in arrears on the unit owner's regular or separate assessments for 60 days or more, shall not be counted for purposes of determining if a quorum is present, but that unit owner retains the right to vote on amendments to the association's bylaws;
HB5449 Enrolled - 18 - LRB104 18328 JRC 31768 b (2) that the association shall have one class of membership;
(2) that the association shall have one class of membership;
(7) that voting shall be on a percentage basis, and that the percentage vote to which each unit is entitled is the percentage interest of the undivided ownership of the common elements appurtenant thereto, provided that the bylaws may provide for approval by unit owners in connection with matters where the requisite approval on a percentage basis is not specified in this Act, on the HB5449 Enrolled - 19 - LRB104 18328 JRC 31768 b basis of one vote per unit;
10400HB5449sam003 -19- LRB104 18328 JRC 37815 a (7) that voting shall be on a percentage basis, and that the percentage vote to which each unit is entitled is the percentage interest of the undivided ownership of the common elements appurtenant thereto, provided that the bylaws may provide for approval by unit owners in connection with matters where the requisite approval on a percentage basis is not specified in this Act, on the basis of one vote per unit;
Show all 77 changed rows (37 more)
Previous
Latest
that the proxy must bear the date of execution and, unless the condominium instruments or the written proxy itself provide otherwise, is invalid after 11 months from the date of its execution;
that the proxy must bear the date of execution and, unless the condominium instruments or the written proxy itself 10400HB5449sam003 -20- LRB104 18328 JRC 37815 a provide otherwise, is invalid after 11 months from the date of its execution;
to the extent the condominium instruments or rules adopted thereunder expressly so provide, a vote or proxy may be submitted by electronic transmission, provided that any such electronic transmission shall either set forth or be submitted with information from which it can be determined that the HB5449 Enrolled - 20 - LRB104 18328 JRC 31768 b electronic transmission was authorized by the unit owner or the unit owner's proxy;
to the extent the condominium instruments or rules adopted thereunder expressly so provide, a vote or proxy may be submitted by electronic transmission, provided that any such electronic transmission shall either set forth or be submitted with information from which it can be determined that the electronic transmission was authorized by the unit owner or the unit owner's proxy;
that every such ballot must include the names of all candidates who have given the board or its authorized agent timely written notice of their candidacy and must give the person casting the ballot the opportunity to cast votes for candidates whose names do not appear on the ballot;
that every such ballot must include the names 10400HB5449sam003 -21- LRB104 18328 JRC 37815 a of all candidates who have given the board or its authorized agent timely written notice of their candidacy and must give the person casting the ballot the opportunity to cast votes for candidates whose names do not appear on the ballot;
that a unit owner who submits HB5449 Enrolled - 21 - LRB104 18328 JRC 31768 b a ballot by mail or other means of delivery specified in the declaration, bylaws, or rule may request and cast a ballot in person at the election meeting, and thereby void any ballot previously submitted by that unit owner;
that a unit owner who submits a ballot by mail or other means of delivery specified in the declaration, bylaws, or rule may request and cast a ballot in person at the election meeting, and thereby void any ballot previously submitted by that unit owner;
the deadline shall be no more than 7 days before the instructions for voting using electronic or acceptable technological means is distributed to unit owners;
the deadline shall be no more than 7 days before the instructions for voting using electronic or acceptable 10400HB5449sam003 -22- LRB104 18328 JRC 37815 a technological means is distributed to unit owners;
a unit HB5449 Enrolled - 22 - LRB104 18328 JRC 31768 b owner who submits a vote using electronic or acceptable technological means may request and cast a ballot in person at the election meeting, thereby voiding any vote previously submitted by that unit owner;
a unit owner who submits a vote using electronic or acceptable technological means may request and cast a ballot in person at the election meeting, thereby voiding any vote previously submitted by that unit owner;
(10) that the association may, upon adoption of the appropriate rules by the board of managers, conduct elections by secret ballot whereby the voting ballot is marked only with the percentage interest for the unit and the vote itself, provided that the board further adopt rules to verify the status of the unit owner issuing a proxy or casting a ballot;
(10) that the association may, upon adoption of the appropriate rules by the board of managers, conduct 10400HB5449sam003 -23- LRB104 18328 JRC 37815 a elections by secret ballot whereby the voting ballot is marked only with the percentage interest for the unit and the vote itself, provided that the board further adopt rules to verify the status of the unit owner issuing a proxy or casting a ballot;
and further, that a candidate for election to the board of managers or such candidate's representative shall have the right to be present at the HB5449 Enrolled - 23 - LRB104 18328 JRC 31768 b counting of ballots at such election;
and further, that a candidate for election to the board of managers or such candidate's representative shall have the right to be present at the counting of ballots at such election;
For purposes of this subsection, "installment sales contract" shall have the same meaning as set forth in Section 5 of the Installment Sales Contract Act and Section 1(e) of the Dwelling Unit Installment Contract Act;
For purposes of this subsection, "installment sales contract" shall have the same meaning as set forth in 10400HB5449sam003 -24- LRB104 18328 JRC 37815 a Section 5 of the Installment Sales Contract Act and Section 1(e) of the Dwelling Unit Installment Contract Act;
(12) the method by which matters subject to the approval of unit owners set forth in this Act, or in the condominium instruments, will be submitted to the unit owners at special membership meetings called for such HB5449 Enrolled - 24 - LRB104 18328 JRC 31768 b purposes;
(12) the method by which matters subject to the approval of unit owners set forth in this Act, or in the condominium instruments, will be submitted to the unit owners at special membership meetings called for such purposes;
(d) Election of a secretary from among the board of managers, who shall keep the minutes of all meetings of the board of managers and of the unit owners and who shall, in general, perform all the duties incident to the office of secretary.
(d) Election of a secretary from among the board of managers, who shall keep the minutes of all meetings of the board of managers and of the unit owners and who shall, in general, perform all the duties incident to the office 10400HB5449sam003 -25- LRB104 18328 JRC 37815 a of secretary.
HB5449 Enrolled - 25 - LRB104 18328 JRC 31768 b (g) An association with 30 or more units shall obtain and maintain fidelity insurance covering persons who control or disburse funds of the association for the maximum amount of coverage available to protect funds in the custody or control of the association plus the association reserve fund.
(g) An association with 30 or more units shall obtain and maintain fidelity insurance covering persons who control or disburse funds of the association for the maximum amount of coverage available to protect funds in the custody or control of the association plus the association reserve fund.
A management company holding reserve funds of an association shall at all times maintain a separate account for each association, provided, however, that for investment purposes, the Board of Managers of an association may authorize a management company to maintain the association's reserve funds in a single interest bearing account with similar funds of other associations.
A management company holding reserve funds of an association shall at all times maintain a separate account for each association, provided, however, that for investment purposes, the Board of Managers of an association may 10400HB5449sam003 -26- LRB104 18328 JRC 37815 a authorize a management company to maintain the association's reserve funds in a single interest bearing account with similar funds of other associations.
The management company may hold all operating funds of associations which it manages in a HB5449 Enrolled - 26 - LRB104 18328 JRC 31768 b single operating account but shall at all times maintain records identifying all moneys of each association in such operating account.
The management company may hold all operating funds of associations which it manages in a single operating account but shall at all times maintain records identifying all moneys of each association in such operating account.
For purposes of this subsection, the term "fiduciary insurance coverage" shall be defined as both a fidelity bond and directors and officers liability coverage, the fidelity bond in the full amount of association funds and association reserves that will be in the custody of the association, and the directors and officers liability coverage at a level as shall be determined to be reasonable by the board of managers, if not otherwise established by the declaration or by laws.
For purposes of this subsection, the term "fiduciary insurance coverage" shall be defined as both a fidelity bond and directors and officers liability coverage, the fidelity bond in the full amount of association funds and association reserves that will be in 10400HB5449sam003 -27- LRB104 18328 JRC 37815 a the custody of the association, and the directors and officers liability coverage at a level as shall be determined to be reasonable by the board of managers, if not otherwise established by the declaration or by laws.
Until one year after September 21, 1985 (the effective date of Public Act 84-722), if a condominium association has reserves plus assessments in excess of $250,000 and HB5449 Enrolled - 27 - LRB104 18328 JRC 31768 b cannot reasonably obtain 100% fidelity bond coverage for such amount, then it must obtain a fidelity bond coverage of $250,000.
Until one year after September 21, 1985 (the effective date of Public Act 84-722), if a condominium association has reserves plus assessments in excess of $250,000 and cannot reasonably obtain 100% fidelity bond coverage for such amount, then it must obtain a fidelity bond coverage of $250,000.
(k) Such restrictions on and requirements respecting the use and maintenance of the units and the use of the common elements, not set forth in the declaration, as are designed to prevent unreasonable interference with the use of their respective units and of the common elements by the several unit owners.
(k) Such restrictions on and requirements respecting the use and maintenance of the units and the use of the common elements, not set forth in the declaration, as are designed to prevent unreasonable interference with the use 10400HB5449sam003 -28- LRB104 18328 JRC 37815 a of their respective units and of the common elements by the several unit owners.
(m) The percentage of votes required to modify or amend the bylaws, but each one of the particulars set HB5449 Enrolled - 28 - LRB104 18328 JRC 31768 b forth in this section shall always be embodied in the bylaws.
(m) The percentage of votes required to modify or amend the bylaws, but each one of the particulars set forth in this section shall always be embodied in the bylaws.
In addition to any other remedies, by filing an action jointly against the tenant and the unit owner, an association may seek to enjoin a tenant from occupying a unit or seek to evict a tenant under the provisions of Article IX of the Code of Civil Procedure for failure of the lessor-owner to comply with the leasing requirements prescribed by this Section or by the declaration, bylaws, and rules and regulations.
In addition to any other remedies, by filing an action jointly against the tenant and the unit owner, an association may seek to enjoin a tenant from occupying a unit or seek to evict a tenant under the provisions of 10400HB5449sam003 -29- LRB104 18328 JRC 37815 a Article IX of the Code of Civil Procedure for failure of the lessor-owner to comply with the leasing requirements prescribed by this Section or by the declaration, bylaws, and rules and regulations.
The board of managers may proceed directly against a tenant, at law or in equity, or under the provisions of Article IX of the Code of Civil Procedure, for any other breach by tenant of any HB5449 Enrolled - 29 - LRB104 18328 JRC 31768 b covenants, rules, regulations or bylaws.
The board of managers may proceed directly against a tenant, at law or in equity, or under the provisions of Article IX of the Code of Civil Procedure, for any other breach by tenant of any covenants, rules, regulations or bylaws.
this shall mean that if garage units or storage units, or both, are to be given a vote, or portion of a vote, that the association must add the total number of votes cast of garage units, storage units, or both, and divide the total by the number of garage units, storage units, or both, and multiply by the aggregate percentage of ownership of garage units and storage units to determine the vote, or portion of a vote, that garage units or storage units, or both, have.
this shall mean that if garage units or storage units, or both, are to be given a vote, or portion of a vote, that the association must add the total number of votes cast of garage units, storage units, or both, and divide the total by the number of garage units, storage units, or both, and multiply by the aggregate percentage of ownership of garage units and storage units to 10400HB5449sam003 -30- LRB104 18328 JRC 37815 a determine the vote, or portion of a vote, that garage units or storage units, or both, have.
(q) That a unit owner may not assign, delegate, HB5449 Enrolled - 30 - LRB104 18328 JRC 31768 b transfer, surrender, or avoid the duties, responsibilities, and liabilities of a unit owner under this Act, the condominium instruments, or the rules and regulations of the Association;
(q) That a unit owner may not assign, delegate, transfer, surrender, or avoid the duties, responsibilities, and liabilities of a unit owner under this Act, the condominium instruments, or the rules and regulations of the Association;
The board of managers shall exercise for the association all powers, duties and authority vested in the association by law or the condominium instruments except for such powers, duties and authority reserved by law to the members of the association.
The board of managers shall exercise for the association all powers, duties and authority vested in the association by law 10400HB5449sam003 -31- LRB104 18328 JRC 37815 a or the condominium instruments except for such powers, duties and authority reserved by law to the members of the association.
Nothing in this subsection (a) shall be deemed HB5449 Enrolled - 31 - LRB104 18328 JRC 31768 b to invalidate any provision in a condominium instrument placing limits on expenditures for the common elements, provided, that such limits shall not be applicable to expenditures for repair, replacement, or restoration of existing portions of the common elements.
Nothing in this subsection (a) shall be deemed to invalidate any provision in a condominium instrument placing limits on expenditures for the common elements, provided, that such limits shall not be applicable to expenditures for repair, replacement, or restoration of existing portions of the common elements.
provided that, unless the improvement is mandated by law or is an emergency as defined in item (iv) of subparagraph (8) of paragraph (a) of Section 18, if the improvement results in a proposed expenditure exceeding 5% of the annual budget, the board of managers, upon written petition by unit owners with 20% of the votes of the association delivered to the board within 21 days of the board action to approve the expenditure, shall call a meeting of the unit owners within 30 days of the date of delivery of the petition to consider the expenditure.
provided that, unless the improvement is mandated by law or is an emergency as defined in item (iv) of subparagraph (8) of paragraph (a) of Section 18, if the improvement results in a proposed expenditure exceeding 5% of the annual budget, the board of managers, upon written petition by unit owners with 20% of the votes of the 10400HB5449sam003 -32- LRB104 18328 JRC 37815 a association delivered to the board within 21 days of the board action to approve the expenditure, shall call a meeting of the unit owners within 30 days of the date of delivery of the petition to consider the expenditure.
HB5449 Enrolled - 32 - LRB104 18328 JRC 31768 b (b) To prepare, adopt and distribute the annual budget for the property.
(b) To prepare, adopt and distribute the annual budget for the property.
Notice of the meeting shall contain the full text of the proposed rules and regulations, and the meeting shall conform to the requirements of Section 18(b) of this Act, except that no quorum is required at the meeting of the unit owners unless the declaration, bylaws or other condominium instrument expressly provides to the contrary.
Notice of the meeting shall contain the full text of the proposed rules and regulations, and the meeting shall conform to the requirements of Section 18(b) of this Act, except that no quorum is required at the meeting of the 10400HB5449sam003 -33- LRB104 18328 JRC 37815 a unit owners unless the declaration, bylaws or other condominium instrument expressly provides to the contrary.
However, no rule or regulation may impair any rights guaranteed by the First Amendment to the Constitution of the United States or Section 4 of Article I of the Illinois Constitution including, but not limited to, the free exercise of religion, nor may any rules or regulations HB5449 Enrolled - 33 - LRB104 18328 JRC 31768 b conflict with the provisions of this Act or the condominium instruments.
However, no rule or regulation may impair any rights guaranteed by the First Amendment to the Constitution of the United States or Section 4 of Article I of the Illinois Constitution including, but not limited to, the free exercise of religion, nor may any rules or regulations conflict with the provisions of this Act or the condominium instruments.
(k) To pay real property taxes, special assessments, and any other special taxes or charges of the State of Illinois or of any political subdivision thereof, or other lawful taxing or assessing body, which are authorized by law to be assessed and levied upon the real property of the condominium.
(k) To pay real property taxes, special assessments, and any other special taxes or charges of the State of Illinois or of any political subdivision thereof, or other lawful taxing or assessing body, which are authorized by law to be assessed and levied upon the real property of the 10400HB5449sam003 -34- LRB104 18328 JRC 37815 a condominium.
HB5449 Enrolled - 34 - LRB104 18328 JRC 31768 b (m) By a majority vote of the entire board of managers, to assign the right of the association to future income from common expenses or other sources, and to mortgage or pledge substantially all of the remaining assets of the association.
(m) By a majority vote of the entire board of managers, to assign the right of the association to future income from common expenses or other sources, and to mortgage or pledge substantially all of the remaining assets of the association.
and to assess and recover the expense as a common expense and, if so determined by the board, to assess each and every unit on the same equal cost per unit basis.
and to assess and recover the expense as a common expense and, if so determined by the board, to assess each and every unit on 10400HB5449sam003 -35- LRB104 18328 JRC 37815 a the same equal cost per unit basis.
(p) To seek relief on behalf of all unit owners when authorized pursuant to subsection (c) of Section 10 from or in connection with the assessment or levying of real property taxes, special assessments, and any other special taxes or charges of the State of Illinois or of any political subdivision thereof or of any lawful taxing or HB5449 Enrolled - 35 - LRB104 18328 JRC 31768 b assessing body.
(p) To seek relief on behalf of all unit owners when authorized pursuant to subsection (c) of Section 10 from or in connection with the assessment or levying of real property taxes, special assessments, and any other special taxes or charges of the State of Illinois or of any political subdivision thereof or of any lawful taxing or assessing body.
(s) To adopt and amend rules and regulations (l) authorizing electronic delivery of notices and other communications required or contemplated by this Act to each unit owner who provides the association with written authorization for electronic delivery and an electronic address to which such communications are to be electronically transmitted;
10400HB5449sam003 -36- LRB104 18328 JRC 37815 a (s) To adopt and amend rules and regulations (l) authorizing electronic delivery of notices and other communications required or contemplated by this Act to each unit owner who provides the association with written authorization for electronic delivery and an electronic address to which such communications are to be electronically transmitted;
and (2) authorizing each unit HB5449 Enrolled - 36 - LRB104 18328 JRC 31768 b owner to designate an electronic address or a U.S.
and (2) authorizing each unit owner to designate an electronic address or a U.S.
The provisions of this Section are applicable to all condominium instruments recorded under this Act.
The provisions of this Section are applicable to all 10400HB5449sam003 -37- LRB104 18328 JRC 37815 a condominium instruments recorded under this Act.
HB5449 Enrolled - 37 - LRB104 18328 JRC 31768 b 100-292, eff.
100-292, eff.
1-1-18.)
1-1-18.)".