IL SB2741

Allows associations to correct errors, omissions, or inconsistencies in community instruments to conform with Illinois law or other applicable laws by a two-thirds board vote, without requiring membership approval.

Exempts corrective amendments from membership voting requirements or notice requirements that would normally apply to amendments to community instruments.

Permits correction of scrivener's errors involving unit shares of common areas or common expenses by proportionately adjusting percentage interests so the total equals 100%, approved by two-thirds board vote or majority member vote.

Allows members holding 20% of association votes to petition for a membership meeting within 30 days to challenge a board-approved correction; the correction is ratified unless a majority of members votes to reject it.

Preserves developers' authority to amend instruments before the initial membership meeting to comply with Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Housing Administration, and Veterans Affairs requirements.