Condo associations in Illinois are required to hold unit owner meetings at least once per year. Board meetings must occur at least four times per year. At each of these meetings, the board’s secretary is required to document meetings and save the notes as board minutes.
In Illinois, the Department of Financial and Professional Regulation (IDFPR) sets forth guidelines related to association members’ rights and obligations under the Condominium Property Act and the Common Interest Community Association Act. They also stipulate requirements for board meetings.
Who Can See the Condo Board’s Minutes in Illinois?
Per the IDFPR, condo board meeting minutes must be maintained for seven years, and “any unit owner has the right to inspect and copy the minutes, in person or by agent, at any reasonable time at the association\’s principal office.”
What is Included in Board Meeting Minutes?
Board meeting minutes are important documentation that get approved by the board and can be used as evidence in the event of a dispute or litigation. They demonstrate that the board is acting transparently and fulfilling its fiduciary duties. The secretary of the board will document the following items and more:
- Date, time and location of the condo board meeting
- Names of board members present (and not)
- Whether a quorum was present
- Actions taken by the board; topics that were discussed
The board secretary will sign the meeting minutes and attach any supporting documentation as needed. A hard copy and an electronic copy should be safely saved.
As a full-service association management firm in Chicago, our team at First Community Management attends board and annual meetings and ensures proper distribution of meeting notices and documents. If you need help managing your condo association, please reach out to our team to learn more about how we can step in.