Chapter 765, PROPERTY

(765 ILCS 77/1) Sec. 1. Short title. This Act may be cited as the Residential Real Property Disclosure Act. (Source: P.A. 88-111.)

(765 ILCS 160/1-1) Sec. 1-1. Short title. This Article may be cited as the Common Interest Community Association Act, and references in this Article to "this Act" mean this Article. (Source: P.A. 96-1400, eff. 7-29-10.)

(765 ILCS 160/1-10) Sec. 1-10. Applicability. Unless expressly provided otherwise herein, the provisions of this Act are applicable to all common interest community associations in this State. (Source: P.A. 96-1400, eff. 7-29-10.)

(765 ILCS 160/1-15) Sec. 1-15. Construction, interpretation, and validity of community instruments. (a) Except to the extent otherwise provided by the declaration or other community instruments, the terms defined in Section 1-5 of this Act shall be deemed to have the meaning spec…

(765 ILCS 160/1-20) Sec. 1-20. Amendments to the declaration, bylaws, or operating agreement. (a) The administration of every property shall be governed by the declaration and bylaws or operating agreement, which may either be embodied in the declaration or in a separate instrume…

(765 ILCS 160/1-25) Sec. 1-25. Board of managers, board of directors, duties, elections, and voting. (a) Elections shall be held in accordance with the community instruments, provided that an election shall be held no less frequently than once every 24 months, for the board of ma…

(765 ILCS 160/1-30) (Text of Section before amendment by P.A. 104-797) Sec. 1-30. Board duties and obligations; records. (a) The board shall meet at least 4 times annually. (b) A common interest community association may not enter into a contract with a current board member, or w…

(765 ILCS 160/1-35) (Text of Section before amendment by P.A. 104-734) Sec. 1-35. Member powers, duties, and obligations. (a) The provisions of this Act, the declaration, bylaws, other community instruments, and rules and regulations that relate to the use of an individual unit o…

(765 ILCS 160/1-40) Sec. 1-40. Meetings. (a) Notice of any membership meeting shall be given detailing the time, place, and purpose of such meeting no less than 10 and no more than 30 days prior to the meeting through a prescribed delivery method. (b) Meetings. (1) Twenty percent…

(765 ILCS 160/1-45) (Text of Section from P.A. 100-292) Sec. 1-45. Finances. (a) Each member shall receive through a prescribed delivery method, at least 30 days but not more than 60 days prior to the adoption thereof by the board, a copy of the proposed annual budget together wi…

(765 ILCS 160/1-47) Sec. 1-47. Successor developers. Any assignment of a developer's interest in the property is not effective until the successor: (i) obtains the assignment in writing; and (ii) records the assignment. (Source: P.A. 99-569, eff. 1-1-17.)

(765 ILCS 160/1-5) Sec. 1-5. Definitions. As used in this Act, unless the context otherwise requires: "Acceptable technological means" includes, without limitation, electronic transmission over the Internet or other network, whether by direct connection, intranet, telecopier, ele…

(765 ILCS 160/1-50) Sec. 1-50. Administration of property prior to election of the initial board of directors. (a) Until the election of the initial board whose declaration is recorded on or after the effective date of this Act, the same rights, titles, powers, privileges, trusts…

(765 ILCS 160/1-55) Sec. 1-55. Fidelity insurance. An association with 30 or more units shall obtain and maintain fidelity insurance covering persons who control or disburse funds of the association for the maximum amount of coverage that is commercially available or reasonably r…

(765 ILCS 160/1-60) Sec. 1-60. Errors, omissions, and inconsistencies. (a) If a provision of the community instruments does not conform to this Act or to another applicable law because of an error, omission, or inconsistency in the community instruments of the association, the as…

(765 ILCS 160/1-65) Sec. 1-65. Management company. A management company holding reserve funds of an association shall at all times maintain a separate account for each association, unless by contract the board of managers of the association authorizes a management company to main…

(765 ILCS 160/1-70) Sec. 1-70. Display of American flag or military flag. (a) Notwithstanding any provision in the declaration, bylaws, community instruments, rules, regulations, or agreements or other instruments of a common interest community association or a board's constructi…

(765 ILCS 160/1-71) Sec. 1-71. Heating and cooling standards. (a) When a common interest community building has a cooling system or heating system or both serving the entire building, including individual units, the association shall comply with the following standards with respe…

(765 ILCS 160/1-73) (This Section may contain text from a Public Act with a delayed effective date) Sec. 1-73. Law enforcement and firefighter vehicles. An association may not define or designate a marked law enforcement vehicle that is assigned to a law enforcement officer, as d…

(765 ILCS 160/1-75) Sec. 1-75. Exemptions for small common interest communities. (a) A common interest community association organized under the General Not for Profit Corporation Act of 1986 and having either (i) 10 units or less or (ii) annual budgeted assessments of $100,000 o…

(765 ILCS 160/1-80) Sec. 1-80. Compliance. A common interest community association shall be in full compliance with the provisions of this Act no later than January 1, 2012. (Source: P.A. 97-605, eff. 8-26-11.)

(765 ILCS 160/1-85) Sec. 1-85. Use of technology. (a) Any notice required to be sent or received or signature, vote, consent, or approval required to be obtained under any community instrument or any provision of this Act may be accomplished using acceptable technological means. …

(765 ILCS 160/1-90) (Section scheduled to be repealed on January 1, 2029) Sec. 1-90. Compliance with the Condominium and Common Interest Community Ombudsperson Act. Every common interest community association, except for those exempt from this Act under Section 1-75, must comply …

(765 ILCS 1026/15-101) Sec. 15-101. Short title. This Act may be cited as the Revised Uniform Unclaimed Property Act. References in this Title 15 (the Revised Uniform Unclaimed Property Act) to "this Act" mean this Title 15 (the Revised Uniform Unclaimed Property Act). (Source: P…

(765 ILCS 1026/15-102) Sec. 15-102. Definitions. In this Act: (1) "Administrator" means the State Treasurer. (2) "Administrator's agent" means a person with which the administrator contracts to conduct an examination under Article 10 on behalf of the administrator. The term inclu…

(765 ILCS 1026/15-103) Sec. 15-103. Inapplicability to foreign transaction. This Act does not apply to property held, due, and owing in a foreign country if the transaction out of which the property arose was a foreign transaction. (Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 1026/15-104) Sec. 15-104. Rulemaking. The administrator may adopt rules to implement and administer this Act pursuant to the Illinois Administrative Procedure Act. (Source: P.A. 100-22, eff. 1-1-18.)

(765 ILCS 77/10) Sec. 10. Except as provided in Section 15, this Act applies to any transfer by sale, exchange, installment land sale contract, assignment of beneficial interest, lease with an option to purchase, ground lease, or assignment of ground lease of residential real pro…

(765 ILCS 77/15) Sec. 15. Seller exemptions. A seller in any of the following transfers is exempt from this Act, regardless of whether a disclosure report is delivered: (1) Transfers pursuant to court order, including, but not limited to, transfers ordered by a probate court in a…

(765 ILCS 1026/15-201) Sec. 15-201. When property presumed abandoned. Subject to Section 15-210, the following property is presumed abandoned if it is unclaimed by the apparent owner during the period specified below: (1) a traveler's check, 15 years after issuance; (2) a money o…

(765 ILCS 1026/15-202) Sec. 15-202. When tax-deferred and tax-exempt retirement accounts presumed abandoned. (a) Subject to Section 15-210, property held in a pension account or retirement account that qualifies for tax deferral or tax exemption under the income-tax laws of the U…

(765 ILCS 1026/15-203) Sec. 15-203. When other tax-deferred account presumed abandoned. (a) Subject to Section 15-210 and except for property described in Section 15-202, property held in an account or plan, including a health savings account, that qualifies for tax deferral unde…

(765 ILCS 1026/15-204) Sec. 15-204. When custodial account for minor presumed abandoned. (a) Subject to Section 15-210, property held in an account established under a state's Uniform Gifts to Minors Act or Uniform Transfers to Minors Act is presumed abandoned if it is unclaimed …

(765 ILCS 1026/15-205) Sec. 15-205. When contents of safe-deposit box presumed abandoned. Tangible property held in a safe-deposit box are presumed abandoned if the property remains unclaimed by the apparent owner 5 years after the expiration of the lease or rental period for the…

(765 ILCS 1026/15-206) Sec. 15-206. When stored-value card presumed abandoned. (a) Subject to Section 15-210, the net card value of a stored-value card is presumed abandoned on the latest of 5 years after: (1) December 31 of the year in which the card is issued or additional fund…

(765 ILCS 1026/15-208) Sec. 15-208. When security presumed abandoned. (a) Subject to Section 15-210, a security is presumed abandoned upon the earlier of the following: (1) 3 years after the date a communication sent by the holder by first-class United States mail to the apparent…

(765 ILCS 1026/15-209) Sec. 15-209. When related property presumed abandoned. At and after the time property is presumed abandoned under this Act, any other property right or interest accrued or accruing from the property and not previously presumed abandoned is also presumed aba…

(765 ILCS 1026/15-210) Sec. 15-210. Indication of apparent owner interest in property. (a) The period after which property is presumed abandoned is measured from the later of: (1) the date the property is presumed abandoned under this Article; or (2) the latest indication of inte…

(765 ILCS 1026/15-211) Sec. 15-211. Knowledge of death of insured or annuitant. (a) In this Section, "death master file" means the United States Social Security Administration Death Master File or other database or service that is at least as comprehensive as the United States So…

(765 ILCS 1026/15-212) Sec. 15-212. Deposit account for proceeds of insurance policy or annuity contract. If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft-writing privileges for the beneficiary of…

(765 ILCS 1026/15-213) Sec. 15-213. United States savings bonds. (a) As used in this Section, "United States savings bond" means property, tangible or intangible, in the form of a savings bond issued by the United States Treasury, whether in paper, electronic, or paperless form, …

(765 ILCS 1026/15-214) Sec. 15-214. Funds owed to deceased State employees. After the death of an employee of a State agency, as defined in Section 1-7 of the Illinois State Auditing Act, any outstanding funds owed to the deceased employee shall be paid to the heirs of the deceas…

(765 ILCS 77/20) Sec. 20. Disclosure report requirements. A seller of residential real property shall complete all items in the disclosure report described in Section 35. The seller shall deliver to the prospective buyer the written disclosure report required by this Act before t…

(765 ILCS 77/25) Sec. 25. Liability of seller. (a) The seller is not liable for any error, inaccuracy, or omission of any information delivered pursuant to this Act if (i) the seller had no knowledge of the error, inaccuracy, or omission, (ii) the error, inaccuracy, or omission w…

(765 ILCS 77/30) Sec. 30. Disclosure report supplement. If, prior to closing, any seller becomes aware of an error, inaccuracy, or omission in any prior disclosure report or supplement after delivery of that disclosure report or supplement to a prospective buyer, that seller shal…

(765 ILCS 77/35) Sec. 35. Disclosure report form. The disclosures required of a seller by this Act shall be made in the following form: RESIDENTIAL REAL PROPERTY DISCLOSURE REPORT NOTICE: THE PURPOSE OF THIS REPORT IS TO PROVIDE PROSPECTIVE BUYERS WITH INFORMATION ABOUT MATERIAL …

(765 ILCS 77/40) Sec. 40. Material defect. (a) If a seller discloses a material defect in the Residential Real Property Disclosure Report, including a response to any statement that is answered "yes" except numbers 1 and 2, and, in violation of Section 20, it is delivered to the …

(765 ILCS 77/45) Sec. 45. Other law. This Act is not intended to limit remedies or modify any obligation to disclose created by any other statute or that may exist in common law in order to avoid fraud, misrepresentation, or deceit in the transaction. (Source: P.A. 102-765, eff. …

(765 ILCS 77/5) Sec. 5. Definitions. As used in this Act, unless the context otherwise requires, the following terms have the meaning given in this Section: "Residential real property" means real property improved with not less than one nor more than 4 residential dwelling units;…

(765 ILCS 77/50) Sec. 50. Delivery of disclosure report. Delivery of the Residential Real Property Disclosure Report provided by this Act shall be by: (1) personal delivery or facsimile, email, or other electronic delivery to the prospective buyer at the contact information provi…