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Director and Officer Liability

Board of Directors, Bylaws, Condo and HOA Assessments, Condominium Document Enforcement, Director and Officer Liability, Illinois Condominium Property Act, Property Managers

Effectively Using Fines to Enforce Illinois Condo & HOA Bylaws Enforcing the governing documents plays a key role in successfully operating a community association. Unruly behavior by a unit owner can lead to unhappy neighbors and a potential decrease in property values. Therefore, it is imperative

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Board of Directors, Director and Officer Liability, Property Managers

Federal Judge Rules Community Associations Must Comply With Corporate Transparency Act As discussed in a prior article, the Community Associations Institute (“CAI” or the “Plaintiffs”) filed a lawsuit in the Eastern District of Virginia against the Department of Treasury seeking an exemption for community associations from

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Board of Directors, Director and Officer Liability, Property Managers

Federal Court Rules that Corporate Transparency Act is likely Constitutional: Community Associations must comply by January 1, 2025 to avoid $10,000 in potential civil penalties The January 1, 2025 deadline for condominium and homeowners associations to comply with the Corporate Transparency Act is fast-approaching. Community associations

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Board of Directors, Bylaws, Condominium Document Enforcement, Director and Officer Liability, Illinois Condominium Attorney, Property Managers

765 ILCS 160/1-40: What Every Homeowners Association Needs to Know About Owner Meetings Community associations play a crucial role in managing community living, ensuring that shared spaces are maintained and that residents abide by community rules. Effective governance hinges on active participation from homeowners, particularly during

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Board of Directors, Condominium Document Amendments, Director and Officer Liability, Illinois Condominium Property Act

765 ILCS/27: How to Amend an Illinois Condominium Declaration? Given the ever-changing nature of the Illinois Condominium Property Act (the “Act”), condominium associations must regularly review their governing documents to ensure smooth operations and avoid exposure to litigation. This article will address how to amend

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Board of Directors, Director and Officer Liability, Property Managers

Federal Court rules that the Corporate Transparency Act is Unconstitutional: What does it mean for Community Associations? On January 1, 2024, the Federal Crimes Enforcement Network (“FinCEN”) opened its online portal for corporate entities in the United States to begin compliance with the new reporting requirements

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