Illinois Bylaws of Unincorporated Association of Subdivision Residents
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How to fill out Bylaws Of Unincorporated Association Of Subdivision Residents?
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FAQ
Usually, Houillon says, there must be a minimum of three board members, and the number can increase based on the size of the building or HOA and interested parties. Unless a building doesn't have a management company, the specific titles of the individual board members don't matter much.
HB 5246 ? Document request, deadlines, and fees Starting January 1, 2023, House Bill 5246 will reduce the timeframe for condominium associations in Illinois to provide certain disclosures under Section 22.1 of the Illinois Condominium Property Act (unit resales) from 30 to 10 business days.
Further, Section 18(a)(8) of the Condo Act provides that all special assessments related to emergencies (as defined above) or mandated by law are not subject to veto by the owners.
General amendments to condominium instruments are governed by Section 27 of the Illinois Condominium Property Act, which states that an affirmative vote of 2/3 of voting unit owners must approve amendments, unless the condominium instruments provide for some other majority vote somewhere between 50% and 75%.
HOA and condo board members should know, though, that they are not completely immune from personal liability. If the court finds that a board member engaged in fraudulent or malicious behaviors, they will be held accountable for their actions.
Most homeowners associations are governed by either the Illinois Condominium Property Act or the Illinois Common Interest Community Association Act. Which law applies to your community depends on whether the homeowners association is a condominium association.
Specifically, Section 18.4 of the Illinois Condominium Property Act states that a condominium board must "exercise the care required of a fiduciary of the unit owners." This duty is also set out in the Illinois General Not for Profit Corporation Act.
In Illinois, condo owners may be forced to sell as part of a deconversion sale, even if they strongly object to the deal. Here, our Illinois condo law attorneys explain Illinois law regarding forced condo sales.
