Posts Tagged ‘budget’
A quirk of Illinois Condominium law has long prevented sending notice of the meeting at which an Association’s annual budget would be considered at the same time as the proposed annual budget was sent to unit owners. This is because one section of the law provided that the annual budget had to be sent out at least 30 days in advance of the meeting while another section required that the notice of meeting could not be sent out more than 30 days in advance. Effective June 1, 2016, this will no longer be the case, as the Illinois Condominium Property Act has been amended to provide that the proposed budget can now be distributed to unit owners at least 25 days in advance.
Logan Law, LLC condominium attorneys have represented Illinois condominium associations for forty five years and have a depth of experience and knowledge of Illinois condominium law. Feel free to contact a Logan Law, LLC attorney whenever you need an attorney experienced in condominium or community association law.