IL SB1646

Amends the Condominium Property Act Section 18.7 to make a technical correction removing a duplicate word ("an") in the definition of "community association."

Establishes requirements for community association managers including age 21 minimum, U.S. citizenship or legal permanent residency, absence of fraud/theft convictions, and working knowledge of relevant state laws.

Requires managers handling funds for associations with 6 or more units to maintain fidelity bonds covering all funds in their custody and covering the manager, firm employees, and association officers/directors.

Mandates separate, segregated accounts for each community association when a manager serves multiple associations, with funds held in custodial accounts under each association's name.

Exempts persons acting as court-appointed receivers, bankruptcy trustees, administrators, executors, or guardians from these requirements.