new Illinois common interest community PA97-0605

Started by MarieL • 1 replies • 1635 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

MarieL (Illinois)
Posts: 82

Posted:

How does this new law effect the unlicensed,uninsurrf and unbonded bookkeeper in our HOA? This person handles all our finances and financial reports. The only thing the treasurer does is read those report submitted and signs checks, whixh are hept in the bookkeepers office and sent to the treasurer to sign The treasurer is not covered by fidelity incurabce either. What does the HOA need to do to be be in compliance with this new law?
Thank you for any help you can offer

TimB4 (Tennessee)
Posts: 21,062

Posted:

Marie,

Since that bill affected both the Common Interest Community Association Act
and the Illinois Condominium Property Act I'm not positive which law I should be looking at.

If you could elaborate on which section of the acts or what the change was, we could be more helpful.

Tim

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here