Illinois Compiled Statutes 765 ILCS 615/15 – Definitions
Current as of: 2024 | Check for updates
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Other versions
As used in this Act:
“Association” means a condominium association or common interest community association as defined in this Act.
“Board of managers” or “board of directors” means:
(1) a common interest community association’s board
“Association” means a condominium association or common interest community association as defined in this Act.
Terms Used In Illinois Compiled Statutes 765 ILCS 615/15
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
“Board of managers” or “board of directors” means:
(1) a common interest community association’s board
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of managers or board of directors, whichever is applicable; or
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(2) a condominium association’s board of managers or
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board of directors, whichever is applicable.
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“Common interest community” means a property governed by the Common Interest Community Association Act.
“Common interest community association” has the meaning ascribed to it in Section 1-5 of the Common Interest Community Association Act.
“Condominium” means a property governed by the Condominium Property Act.
“Condominium association” means a unit owners’ association as defined in subsection (o) of Section 2 of the Condominium Property Act or a master association as defined in subsection (u) of Section 2 of the Condominium Property Act.
“Declaration” has the meaning ascribed to it in:
(1) Section 1-5 of the Common Interest Community
“Common interest community association” has the meaning ascribed to it in Section 1-5 of the Common Interest Community Association Act.
“Condominium” means a property governed by the Condominium Property Act.
“Condominium association” means a unit owners’ association as defined in subsection (o) of Section 2 of the Condominium Property Act or a master association as defined in subsection (u) of Section 2 of the Condominium Property Act.
“Declaration” has the meaning ascribed to it in:
(1) Section 1-5 of the Common Interest Community
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Association Act; or
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(2) Section 2 of the Condominium Property Act.
“Department” means the Department of Financial and Professional Regulation.
“Director” means the Director of the Division of Real Estate.
“Division” means the Division of Real Estate within the Department of Financial and Professional Regulation.
“Office” means the Office of the Condominium and Common Interest Community Ombudsperson established under Section 20 of this Act.
“Ombudsperson” means the Condominium and Common Interest Community Ombudsperson named under Section 20 of this Act.
“Person” includes a natural person, firm, association, organization, partnership, business trust, corporation, limited liability company, or public entity.
“Secretary” means the Secretary of the Department of Financial and Professional Regulation.
“Unit” means a part of the condominium property or common interest community property designed and intended for any type of independent use.
“Unit owner” has the meaning ascribed to it in:
(1) subsection (g) of Section 2 of the Condominium
“Department” means the Department of Financial and Professional Regulation.
“Director” means the Director of the Division of Real Estate.
“Division” means the Division of Real Estate within the Department of Financial and Professional Regulation.
“Office” means the Office of the Condominium and Common Interest Community Ombudsperson established under Section 20 of this Act.
“Ombudsperson” means the Condominium and Common Interest Community Ombudsperson named under Section 20 of this Act.
“Person” includes a natural person, firm, association, organization, partnership, business trust, corporation, limited liability company, or public entity.
“Secretary” means the Secretary of the Department of Financial and Professional Regulation.
“Unit” means a part of the condominium property or common interest community property designed and intended for any type of independent use.
“Unit owner” has the meaning ascribed to it in:
(1) subsection (g) of Section 2 of the Condominium
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Property Act; or
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(2) Section 1-5 of the Common Interest Community
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Association Act.
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