Who does Illinois §1-65 apply to?

Illinois §1-65 applies to HOA associations in Illinois.

What happens if our HOA doesn't comply with §1-65?

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 §1-65?

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 §1-65

Management company

Statute:: Illinois §1-65 · Act CICAA (Common Interest Community Association Act (765 ILCS 160))
Topic:: Governance · Separate accounts
Applies to:: HOA associations

A management company holding reserve funds must keep a separate account for each association, unless the contract and the instruments expressly allow a different arrangement that still identifies each association's money.

management company; separate account; reserve funds

📄 Read the official text at ilga.gov →

How SoShiny helps with Management company

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 §1-65 require?: A management company holding reserve funds must keep a separate account for each association, unless the contract and the instruments expressly allow a different arrangement that still identifies each association's money.
Who does Illinois §1-65 apply to?: Illinois §1-65 applies to HOA associations in Illinois.
What happens if our HOA doesn't comply with §1-65?: 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 §1-65?: 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 Management company?: 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 §1-65 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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