Bill Title: Amends the Condominium Property Act. Provides that once a condominium association has at least one member other than the developer, condominium instruments shall be amended only, unless the Act provides otherwise (rather than not allowing for an exception), by: (i) an affirmative vote of two-thirds of those voting or by a majority vote margin specified by the condominium instruments, provided that the specified majority vote margin may not exceed a three-quarters vote of all unit owners; and (ii) any required mortgagee's approval. Deletes provisions which state, unless the Act provides otherwise, that: (i) no condominium instrument shall require more than a three-quarters vote of unit owners to amend the bylaws, unless the property's declaration is recorded on or after July 1, 1984; and (ii) no condominium instrument amendment shall change: any unit boundaries; a unit's interest in the common elements; the number of votes in the unit owners' association; or a unit's liability for common expenses. [Track Bill]

Status: 2013-01-08 - Session Sine Die [SB2848 Detail]

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Bill Drafts

Revision	Date	Source	Format
Introduced	2012-01-24	Link	HTML/Text

Amendments

Amendment	Date	Disposition	Source	Format
No bill amendments currently on file for Illinois SB2848

Supplemental Documents

Title	Description	Date	Source	Format
No supplemental documents for Illinois SB2848 currently on file.