IL SB3057

Lease terms and community rules must be incorporated into all leases executed or renewed on or after the effective date, and apply to lessees as well as unit owners.

Unit owners leasing their units must deliver a signed lease copy to the association within 10 days of signing or by the occupancy date, whichever comes first; oral leases require a memorandum instead.

Only one owner of a multi-owner unit may serve on the board at any time, unless that owner independently owns another unit.

Two-thirds of membership can remove a board member at a special meeting.

When a unit is resold, the board must provide prospective purchasers with documentation including the declaration, financial statements, pending lawsuits, reserve fund status, insurance coverage details, and unpaid assessments within 30 days of written request; reasonable copying fees may be charged.