Bill Amendment: IL SB1020 | 2017-2018 | 100th General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: CIVIL LAW-TECH

Status: 2019-01-09 - Session Sine Die [SB1020 Detail]

Download: Illinois-2017-SB1020-Senate_Amendment_001.html

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Sen. Michael Connelly

Filed: 4/17/2017

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AMENDMENT TO SENATE BILL 1020
AMENDMENT NO. ______. Amend Senate Bill 1020 by replacing
everything after the enacting clause with the following:
"Section 5. The Condominium Property Act is amended by
changing Section 15 as follows:
(765 ILCS 605/15) (from Ch. 30, par. 315)
Sec. 15. Sale of property.
(a) Unless a greater percentage is provided for in the
declaration or bylaws, and notwithstanding the provisions of
Sections 13 and 14 hereof, a majority of the unit owners where
the property contains 2 units, or not less than 66 2/3% where
the property contains three units, and not less than 75% where
the property contains 4 or more units may, by affirmative vote
at a meeting of unit owners duly called for such purpose, elect
to sell the property. Such action shall be binding upon all
unit owners, and it shall thereupon become the duty of every

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unit owner to execute and deliver such instruments and to
perform all acts as in manner and form may be necessary to
effect such sale, provided, however, that any unit owner who
did not vote in favor of such action and who has filed written
objection thereto with the manager or board of managers within
20 days after the date of the meeting at which such sale was
approved shall be entitled to receive from the proceeds of such
sale an amount equivalent to the value of his or her interest,
as determined by a fair appraisal, less the amount of any
unpaid assessments or charges due and owing from such unit
owner. The objecting unit owner is also entitled to receive
from the proceeds of a sale under this Section reimbursement
for reasonable relocation costs, determined in the same manner
as under the federal Uniform Relocation Assistance and Real
Property Acquisition Policies Act of 1970, as amended from time
to time, and as implemented by regulations promulgated under
that Act.
(b) If there is a disagreement as to the value of the
interest of a unit owner who did not vote in favor of the sale
of the property, that unit owner shall have a right to
designate an expert in appraisal or property valuation to
represent him, in which case, the prospective purchaser of the
property shall designate an expert in appraisal or property
valuation to represent him, and both of these experts shall
mutually designate a third expert in appraisal or property
valuation. The 3 experts shall constitute a panel to determine

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by vote of at least 2 of the members of the panel, the value of
that unit owner's interest in the property. The changes made by
this amendatory Act of the 100th General Assembly apply to
sales under this Section that are pending or commenced on and
after the effective date of this amendatory Act of the 100th
General Assembly.
(Source: P.A. 86-1156.)
Section 99. Effective date. This Act takes effect upon
becoming law.".