Bill Text: IL SB0928 | 2017-2018 | 100th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Common Interest Community Association Act. Provides that an owner who intends to convey any interest in property subject to assessments under this Act shall notify the board that the owner intends to convey the property. Provides that upon receiving such a notice from the owner, the board shall provide each person to whom an interest in the property is conveyed with written documentation detailing the assessment structure of the association. Provides that the written documentation must include the penalties for failure to pay the assessments required by the association. Provides that the written documentation shall provide space for both the owner and each person to whom the property is conveyed to indicate by signature or initial that the written documentation has been provided to and reviewed by the person to whom the property is conveyed. Provides that the board shall be provided with and keep a copy of the signed or initialed documentation.
Spectrum: Bipartisan Bill
Status: (Failed) 2019-01-09 - Session Sine Die [SB0928 Detail]
Download: Illinois-2017-SB0928-Introduced.html
Bill Title: Amends the Common Interest Community Association Act. Provides that an owner who intends to convey any interest in property subject to assessments under this Act shall notify the board that the owner intends to convey the property. Provides that upon receiving such a notice from the owner, the board shall provide each person to whom an interest in the property is conveyed with written documentation detailing the assessment structure of the association. Provides that the written documentation must include the penalties for failure to pay the assessments required by the association. Provides that the written documentation shall provide space for both the owner and each person to whom the property is conveyed to indicate by signature or initial that the written documentation has been provided to and reviewed by the person to whom the property is conveyed. Provides that the board shall be provided with and keep a copy of the signed or initialed documentation.
Spectrum: Bipartisan Bill
Status: (Failed) 2019-01-09 - Session Sine Die [SB0928 Detail]
Download: Illinois-2017-SB0928-Introduced.html
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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 Common Interest Community Association Act is | |||||||||||||||||||
5 | amended by adding Section 1-37 as follows:
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6 | (765 ILCS 160/1-37 new) | |||||||||||||||||||
7 | Sec. 1-37. Notice of assessment schedule. An owner who | |||||||||||||||||||
8 | intends to convey any interest in property subject to | |||||||||||||||||||
9 | assessments under this Act shall notify the board that the | |||||||||||||||||||
10 | owner intends to convey the property. Upon receiving such a | |||||||||||||||||||
11 | notice from the owner, the board shall provide each person to | |||||||||||||||||||
12 | whom an interest in the property is conveyed with written | |||||||||||||||||||
13 | documentation detailing the assessment structure of the | |||||||||||||||||||
14 | association. The written documentation must include the | |||||||||||||||||||
15 | penalties for failure to pay the assessments required by the | |||||||||||||||||||
16 | association. The written documentation shall provide space for | |||||||||||||||||||
17 | both the owner and each person to whom the property is conveyed | |||||||||||||||||||
18 | to indicate by signature or initial that the written | |||||||||||||||||||
19 | documentation has been provided to and reviewed by the person | |||||||||||||||||||
20 | to whom the property is conveyed. The board shall be provided | |||||||||||||||||||
21 | with and keep a copy of the signed or initialed documentation.
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