Condominium Bylaws Condo With Hoa In Illinois In Sacramento
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FAQ
The administration and functioning of HOAs in the state are governed by the Illinois Common Interest Community Association Act. In homeowner's associations with detached or attached townhouses, single-family houses, or villas, this provision is applicable.
Annual Meeting 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.
On the flip side, board members can be held personally liable if they engage in illegal activities, breach their fiduciary duties or personally benefit from association transactions.
Sec. 9.1. (a) Other liens; attachment and satisfaction. Subsequent to the recording of the declaration, no liens of any nature shall be created or arise against any portion of the property except against an individual unit or units.
General amendments to inium instruments are governed by Section 27 of the Illinois inium Property Act, which states that an affirmative vote of 2/3 of voting unit owners must approve amendments, unless the inium instruments provide for some other majority vote somewhere between 50% and 75%.
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.
Inium associations in Chicago are primarily regulated by state law, specifically the Illinois inium Property Act (ICPA). This act governs the creation, management and dissolution of iniums in Chicago and throughout Illinois.
If the inium instruments do not provide otherwise, 2/3 unit owner approval is required to amend the governing documents. The inium instruments can provide for necessary approval of up to 3/4 owner approval, however. The approved amendment would then be recorded and would become effective upon recording.
When Should HOA Meeting Minutes be Distributed? HOA meeting minutes should typically be distributed to all HOA members within 30 days of the meeting.
