Members of the 98th Illinois General Assembly introduced 13,337 bills and resolutions to date. Of these, 1,146 have become Public Acts. For the full text and legislative status of all 98th General Assembly bills and Public Acts, you can go to http://www.ilga.gov/ Acts that could affect how you do business effective January 1, 2015, include new laws about:
(A) Business entities: Reinstatement of entities within the statutory time period after dissolution renews the limitation of liability for officers, directors, agents, and employees. Even without reinstatement, directors and officers are not personally liable for actions which are necessary and proper to wind up a corporation’s business and affairs after dissolution. P.A. 98-0776. I’m happy to say this law was developed with the help of the Institute of Illinois Business Laws, which I serve as Chairman for 2014-2016.
(B) Employee rights: “Reasonable accommodation” is now required for job applicants or employees concerning issues related to pregnancy or childbirth. P.A. 98-1050.
(C) Real estate: A “Transfer on Death Instrument” (TODI) allows real estate title to pass on the death of an owner without going through the probate court process. The new Act amends the TODI statute to make transfers to bona fide purchasers for value effective against creditors of the decedent, unless a lis pendens had already been filed for current litigation to set aside the TODI. Statutory power of attorney (POA) for property agents now cannot make a TODI concerning any property of the maker of the POA unless this is explicitly allowed in the power of attorney document. PA 98-0821.
(D) Administrative Review: In appeals of building code enforcement decisions for single or multifamily residential properties, arbitrary and capricious municipal hearing officer decisions, municipal failure to provide an adequate record for review, or plaintiff actions not well grounded in fact and either existing law or a good argument why current precedents should be changed can result in the award of legal fees and costs against the losing party. PA 98-1105.
(E) Traffic cases: Bond was eliminated for “petty offenses” in the traffic code, and the court was given power to provide a 30 day or longer extension of date to show up, with notice to the offender’s address according to Secretary of State records. The license could be suspended for further absence from a required court date. P.A. 98-870.
(F) General: Other laws effective on 1/1/2015 changed the rules for gifts on death to “caregivers”, small estate affidavit debt lists, amendment of trusts by beneficiaries and trustees, the text required for a new statutory power of attorney for health care, condominium declaration clauses compelling out of court arbitration, disclosure of known window and door defects to house purchasers, condominium association assessment liability and lawyer fee assessment caps against current or new unit owners, gated community access for process servers, and limitation of injury claims to workers compensation awards against service organizations owned by an employer.