Illinois Condo Developers have a Fiduciary Duty to Create a Reserve Fund after recording the Declaration One of the most significant challenges facing board members taking over a newly built condominium, townhomes, or single-family homes is that the community association is often turned over from the
Illinois Court Rules Cumulative Late Fees in Condo Associations Are Unenforceable Assessments are a community association’s lifeblood, and community associations should ensure that they are timely receiving assessments from owners. Generally, community associations will levy late fees on owners who fail to timely pay their assessments.
Federal Court Reinstates Corporate Transparency Act Beneficial Ownership Reporting Requirements and Deadline Extended by FinCEN On December 3, 2024, a federal court in Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc v Garland, No. 4:24-CV-478, 2024 WL 4953814, at *37 (ED Tex,
Supreme Court Allows Enforcement of Corporate Transparency Act; FinCEN’s Website Says Filing Requirements Still on Pause On December 3, 2024, a federal court in Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc v Garland, No. 4:24-CV-478, 2024 WL 4953814, at *37 (ED
Supreme Court Allows Enforcement of Corporate Transparency Act On December 3, 2024, a federal court in Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc v Garland, No. 4:24-CV-478, 2024 WL 4953814, at *37 (ED Tex, December 3, 2024), temporarily halting the enforcement
A 3 Step Process for Collecting Condominium & HOA Assessments in Illinois Assessment payments are the lifeblood for a community association as these payments are generally the sole source of income for most community associations. The income received from assessment payments is used to fund association
