A condominium association is an association of unit owners in a condominium building. The association elects a board of directors, which handles the maintenance and repair of common areas, disputes among unit owners, and enforcement of rules and regulations, and condominium fees. The rules and regulations are normally adopted by the board of directors of the association.
Illinois Rules and Regulations of an Association of Owners of a Condominium Association
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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.
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.
If the condominium instruments require approval of any mortgagee or lienholder of record and the mortgagee or lienholder of record receives a request to approve or consent to the amendment to the condominium instruments, the mortgagee or lienholder of record is deemed to have approved or consented to the request unless ...
Sec. 18.4. Powers and duties of board of managers. The board of managers shall exercise for the association all powers, duties and authority vested in the association by law or the condominium instruments except for such powers, duties and authority reserved by law to the members of the association.
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%.
Ing to Sec. 12 of the Illinois Condominium Act ("ICA"), the property insurance policy for the association must cover the structural elements of the building including the following: Interior and exterior walls, foundation and roof. Common areas of the building such as the lobby and hallways.
Sec. 33. Limitations on the use of smoking cannabis. The condominium instruments of an association may prohibit or limit the smoking of cannabis, as the term ?smoking? is defined in the Cannabis Regulation and Tax Act, within a unit owner's unit.