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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB5210 Introduced , by Rep. Keith R. Wheeler SYNOPSIS AS INTRODUCED:
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| 765 ILCS 605/22.1 | from Ch. 30, par. 322.1 |
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Amends the Condominium Property Act. Provides that the principal officer of the unit owner's association or such other officer as is specifically designated shall furnish specified information when requested to do so in writing and within 5 business days (rather than 30 days) of the request. Limits the fee covering the direct out-of-pocket cost of providing and copying the information to $100.
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| | A BILL FOR |
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| | HB5210 | | LRB101 17549 LNS 66967 b |
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1 | | AN ACT concerning civil law.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Condominium Property Act is amended by |
5 | | changing Section 22.1 as follows:
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6 | | (765 ILCS 605/22.1) (from Ch. 30, par. 322.1)
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7 | | Sec. 22.1.
(a) In the event of any resale of a condominium |
8 | | unit by a
unit owner other than the developer such owner shall |
9 | | obtain from the Board
of Managers and shall make available for |
10 | | inspection to the prospective
purchaser, upon demand, the |
11 | | following:
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12 | | (1) A copy of the Declaration, by-laws, other |
13 | | condominium
instruments and any rules and regulations.
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14 | | (2) A statement of any liens, including a statement of
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15 | | the account of the unit setting forth the amounts of unpaid |
16 | | assessments and
other charges due and owing as authorized |
17 | | and limited by the provisions
of Section 9 of this Act or |
18 | | the condominium instruments.
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19 | | (3) A statement of any capital expenditures |
20 | | anticipated by the unit
owner's association within the |
21 | | current or succeeding two fiscal years.
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22 | | (4) A statement of the status and amount of any reserve
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23 | | for replacement fund and any portion of such fund earmarked |