Insurance
- Statute:
- Illinois §12 · Act CPA (Condominium Property Act (765 ILCS 605))
- Topic:
- Insurance & Liability · Required coverage
- Applies to:
- Condo associations
Every condo policy must include: special-form property insurance at full insurable replacement cost (including code-upgrade coverages B and C); commercial general liability of at least $1,000,000; for associations of 6 or more units, a fidelity bond in the full amount of funds and reserves; and directors-and-officers liability at a level the board finds reasonable. The association policy is primary. The board may pay a deductible as a common expense, assess it to the unit that caused the loss after notice and a hearing, or require the affected owners to pay it. Policies issued or renewed on or after 1 June 2015 follow this section.
📄 Read the official text at ilga.gov →
How SoShiny helps with 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 freeFrequently asked
- What does Illinois §12 require?
- Every condo policy must include: special-form property insurance at full insurable replacement cost (including code-upgrade coverages B and C); commercial general liability of at least $1,000,000; for associations of 6 or more units, a fidelity bond in the full amount of funds and reserves; and directors-and-officers liability at a level the board finds reasonable. The association policy is primary. The board may pay a deductible as a common expense, assess it to the unit that caused the loss after notice and a hearing, or require the affected owners to pay it.
- Who does Illinois §12 apply to?
- Illinois §12 applies to Condo associations in Illinois.
- What happens if our condo doesn't comply with §12?
- 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 §12?
- 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 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 §12 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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