IL HB3499

Directors and officers of corporations that operate as builders remain liable to home buyers after corporate dissolution for obligations arising under warranties provided in connection with new home sales.

Members and managers of limited liability companies that operate as builders remain liable to home buyers after LLC dissolution for obligations arising under warranties provided in connection with new home sales.

General partners and dissociated general partners of limited partnerships that operate as builders remain liable to home buyers after partnership dissolution for obligations arising under warranties provided in connection with new home sales.

"Builder" is defined as a person or business entity that constructs new homes for sale, including construction on land owned by home buyers, and "home buyer" means the purchaser of a new home.