This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Homeowners Association Bylaws Template With Rules In Illinois
Instant download
Description
Free preview
Form popularity
FAQ
To legally establish an HOA in Illinois, the organization must submit Articles of Incorporation to the Illinois Secretary of State. The Illinois General Not For Profit Corporation Act of 1986 governs nonprofit corporations.
Attendance of 20% of the voting power constitutes a quorum. Notice of association meetings must be given at least 10 days before a meeting but no more than 30 days, and at least 48 hours' notice must be given for meetings of the board of directors.
In for-profit corporations, almost 60% of respondents said corporate boards should have 8-11 members. For larger companies, boards typically fall in the 9-12 member range (Biggs, The Governance Factor ). Some sources argue strongly for an odd number of voting board members, so that tie votes can be all but eliminated.
Most homeowners associations are governed by either the Illinois inium Property Act or the Illinois Common Interest Community Association Act.
To legally establish an HOA in Illinois, the organization must submit Articles of Incorporation to the Illinois Secretary of State. The Illinois General Not For Profit Corporation Act of 1986 governs nonprofit corporations.
Homeowners can file a complaint against an HOA by contacting the Illinois Department of Financial and Professional Regulation. The state offers a dispute resolution service for certain issues, or legal action can be taken.
HOA Board Membership Numbers Typically, a board needs at least three members, but the maximum size will depend on state laws and the governing policies. HOA boards can expand where the demands and scope of the association increase due to new homes in the neighborhood or a larger number of residents.
The Illinois General Not for Profit Corporation Act, which governs the vast majority of associations, requires that the board of directors of a corporation consist of three or more directors with the number of directors established in the bylaws.
Many HOAs maintain a website where governing documents are posted. To find HOA rules and regulations online: Navigate to the HOA's official website. Look for sections labeled “Documents,” “Governing Documents,” or “Rules and Regulations.”
