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IL HB2643
Bill
Status
3/19/2015
Primary Sponsor
Kelly Cassidy
Click for details
AI Summary
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Allows condominium associations to correct omissions, errors, or inconsistencies in condominium instruments to conform with the Condominium Property Act or other applicable statutes through a two-thirds vote of the Board of Managers, without requiring a unit owner vote.
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Exempts corrections for omissions, errors, or inconsistencies from requirements that unit owners, mortgagees, or lienholders approve or receive notice of amendments to condominium instruments.
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Permits correction of scrivener's errors in unit share distributions of common elements and common expenses by two-thirds Board vote or majority unit owner vote, with proportional adjustment to make total shares equal 100%.
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Allows unit owners representing 20 percent of association votes to petition for a unit owner meeting within 30 days to reconsider Board corrections; amendments are ratified unless a majority of unit owners reject the action.
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Prohibits use of the simplified amendment procedures if the amendment would materially or adversely affect unit owner property rights without written consent from affected owners; allows circuit courts to hear petitions to correct errors that cannot be addressed through standard procedures.
Legislative Description
CONDO ACT-INSTRUMENT AMENDMENT
Last Action
Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
7/31/2016