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Oct 30, 2016 · The election of the members of the Board of Directors occurs each year at the Annual Meeting. The association is not permitted to “skip” the election, as Section 18(b)(3) of the Act requires the association to conduct an election each year.
- Associations are like "mini-governments" which provide quasi-public services
- Governance Documents
- Elections
- Condominium Associations
- Board Meetings
- Meetings Regarding Rules
- Closed Sessions
- Budgets
- Condominium Associations
- Common Interest Community Associations
- Insurance
- Common Interest Community Associations
- Access to Records
- Condominium Associations
- Common Interest Community Associations
- Summary
- Common Interest Community Associations (CICAA Section 1-30)
- Unit Owner Use and Enjoyment
Associations, which are first and foremost corporations, can also be big businesses, with budgets in some large residential associations exceeding $5 million. They make substantial purchases of goods and services, must prudently invest what often amounts to tens of thousands of dollars in their reserve funds, and direct the management and maintenan...
Just as the elected leaders of a small town must be knowledgeable about the laws defining their authority and governing their actions, so must board members become familiar with the documents that control the operation and administration of the association (also called "community instruments" in CICAA). These are: Declaration: The declaration is ...
Conducting well-run elections with scrupulous integrity and honesty is an essential function of every association. It’s of utmost importance that every association “follow the rules” for conducting an election that complies with Illinois law. If owners are going to trust the members of the boards that govern the affairs of their association, they ...
The bylaws of every condominium association must provide for the election from among the unit owners of a board of managers. Once elected, board members have broad authority to act on behalf of the association and its members subject to the Act, the declaration and bylaws including filling vacancies on the board until the next annual meeting of ...
As mentioned above, boards of managers in both common interest and condominium communities must meet at least four times each year. Board meetings are held to enable board members to transact the association’s business. Board meetings also provide an excellent opportunity to communicate the current status of projects, provide budget and financial s...
In a condominium association, any proposed rule must be discussed at a membership meeting called for that specific purpose. The CPA provides that the board of directors has the sole authority to adopt or amend rules and regulations covering the operation and use of the property, after a meeting of the unit owners called for the specific purpose of...
Generally, a “closed session” is a portion of an open board meeting during which the board discusses – but does not vote on – certain sensitive matters specified by Illinois law, without any owners present. A closed session generally occurs when the board votes to go into closed session at any time during a board meeting.
One of the most important responsibilities of an association board is to develop and enact a budget for the association. To this end, board members must thoughtfully consider their fiduciary duties—their responsibility to consider budget matters in a businesslike manner and perform due diligence to make good decisions on behalf of the community as ...
Each year, the board of managers must provide all unit owners with an itemized accounting of the common expenses for the preceding year actually incurred or paid, together with an indication of which portions were for reserves, capital expenditures or repairs, or payment of real estate taxes, and with a tabulation of the amounts collected pursuant ...
Common interest community associations must provide all members with a reasonably detailed summary of the receipts, common expenses, and reserves for the preceding budget year. The board is required to (i) make available for review to all members an itemized accounting of the common expenses for the preceding year actually incurred or paid, togethe...
Association boards must be vigilant in protecting the association’s real and personal property and other assets. This is a fundamental obligation to owners and an essential part of fulfilling the board members’ fiduciary duties.
The CICAA clearly anticipates that an association will purchase insurance coverage, but a common interest community association’s board members should review the association’s community instruments to determine what level of insurance the association is responsible for maintaining.
Access to association records can be one of the most contentious areas of disagreement between association boards and association members. In the recent past, the law governing this issue has been fluid, and since penalties for board non-compliance with records access requirements can be steep, boards are well-advised to seek legal counsel and to ...
Any member of an association has the right to inspect, examine, and make copies of: The association’s declaration, bylaws, and plats of survey and all amendments to these documents; The association’s rules and regulations, if any; If the association is incorporated, the association’s articles of incorporation and all amendments to the articles; Min...
The CICAA requires that boards maintain specific records of the association and, within 30 days' of receiving a member's written request make them available for examination and copying at convenient hours on weekdays by any member or unit owner. These are: Copies of the recorded declaration, other community instruments, other duly recorded covenan...
Condominium association and common interest community association board members owe a fiduciary duty to the association and its members. Board members’ fiduciary duties include acting with undivided loyalty in the best interests of the association. Board members must exercise reasonable business judgment and make decisions on an informed basis wi...
(a) The board shall meet at least 4 times annually. (c) The bylaws or operating agreement shall provide for the maintenance, repair, and replacement of the common areas and payments therefor, including the method of approving payment vouchers. (e) The association may engage the services of a manager or management company. (g) The board shall have t...
Condominium boards have the right to access individual units as may be necessary to facilitate the maintenance, repair or replacement of any common elements or for making emergency repairs necessary to percent damage to the common elements or other units. (CPA Sec. 18.4(j)). The mission of the CCIC Ombudsperson is to provide information to unit own...
According to the Illinois Condominium Property Act, Section 18, the bylaws of each building should provide the rules regarding an election. More specifically—and most importantly, it states that the terms of at least one-third of the board members should expire annually.
Fri, April 19, 2024 State Board of Elections certifies March 19 primary results Fri, April 5, 2024 SBE calls on publisher to remove voters' personal information from websites Fri, December 1, 2023 Public Act 100-0464 (SB1933), established Automatic Voter Registration (AVR), and mandates that the Illinois State Board of Elections submit an annual public report to the General Assembly and the Gov...
Sep 10, 2020 · Fact: Under Section 108.35 (c) of the Illinois General Not-for-Profit Corporation Act (“NFP Act”), a vote of at least two-thirds (2/3) of the members of the association is required to remove a director. A Board does, however, retain the authority to remove an officer.
Sep 14, 2023 · Both buyers and sellers have some form of closing costs to cover in the Prairie State. We break down who typically pays for what.
People also ask
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Illinois HOAs are susceptible to actions like foreclosure or eviction under specific circumstances and may impose liens for unpaid assessments. Statutes also dictate the necessary disclosures to residents and procedures for elections and boards.
