Who does Illinois §1-55 apply to?

Illinois §1-55 applies to HOA associations in Illinois.

What happens if our HOA doesn't comply with §1-55?

Non-compliance can expose the association and individual directors to disputes in the governing forum for Illinois community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.

Where can I read the official text of Illinois §1-55?

The official text is published by the Illinois General Assembly at ilga.gov. The summary on this page is for plain-English reference only and is not legal advice.

Illinois §1-55

Fidelity insurance

Statute:: Illinois §1-55 · Act CICAA (Common Interest Community Association Act (765 ILCS 160))
Topic:: Insurance & Liability · Fidelity bond
Applies to:: HOA associations

An association with 30 or more units must obtain and maintain fidelity insurance covering persons who control or disburse association funds, in an amount covering those funds and reserves.

fidelity; 30 units; funds; reserves

📄 Read the official text at ilga.gov →

How SoShiny helps with Fidelity insurance

SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.

See the feature → Start free

Frequently asked

What does Illinois §1-55 require?: An association with 30 or more units must obtain and maintain fidelity insurance covering persons who control or disburse association funds, in an amount covering those funds and reserves.
Who does Illinois §1-55 apply to?: Illinois §1-55 applies to HOA associations in Illinois.
What happens if our HOA doesn't comply with §1-55?: Non-compliance can expose the association and individual directors to disputes in the governing forum for Illinois community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
Where can I read the official text of Illinois §1-55?: The official text is published by the Illinois General Assembly at ilga.gov. The summary on this page is for plain-English reference only and is not legal advice.
How does SoShiny help with Fidelity insurance?: SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →

Not legal advice. This page is a plain-English summary of Illinois §1-55 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Illinois-licensed attorney. For the official statutory text, see the link above.

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