(Mulroe, D-Chicago; Martwick, D-Chicago) deletes the ability of condominium instruments to supersede a majority vote of the entire board of managers to do the following: assign the right of the association to future income from common expenses or other sources and to mortgage or pledge substantially all of the remaining assets of the association. Passed both chambers.
(Mulroe, D-Chicago; Martwick, D-Chicago) provides that any assignment of a developer’s interest in the property is not effective until the successor obtains the assignment in writing and records it. Passed both chambers.
Bankruptcy Ct. erred in denying Chapter 13 Trustee’s motion to modify previously confirmed repayment plan, where Trustee had claimed that debtor’s income had increased $50,000 since confirmation date, and where Bankruptcy Ct. based denial on erroneous belief that Bankruptcy Code did not contain provision that would allow for modification of confirmed Chapter 13 plan for reasons cited by Trustee. Modification of confirmed Chapter 13 plan is permissible under 11 USC section 1329(a), where, as here, purpose of modification was to increase payments to unsecured creditors, and where proposed modification would not result in payments for more than five-year period of time. Remand, though, was required for Dist. Ct. to determine whether debtors’ financial circumstances had sufficiently changed so that it would be equitable to require proposed higher payments.
(Court opinion corrected 6/22/16.) Parties entered into "Interlocking Guaranty", in which one Defendant agreed to be a guarantor for any then-existing or future debt which another Defendant owed to Plaintiff financial corporation. Commercial loan provision in guaranty pertained only to specific transaction between Plaintiff and other defendant and did not operate to terminate continuing guaranty between guarantor and Plaintiff. Plain meaning of language of guaranty shows that parties entered into a continuing guaranty. Plaintiff's motion to add fees and costs to judgment was collateral and incidental to summary judgment ruling that guarantor appealed, and trial court thus had jurisdiction to address Plaintiff's motion. (KNECHT and HOLDER WHITE, concurring.)
(Nekritz, D-Buffalo Grove; Steans, D-Chicago) makes a number of changes to this Act. (1) Exempts from FOIA any information collected by the Department of Financial and Professional Regulation. This exemption does not extend to educational, training, and outreach material, statistical data, or operational information maintained by the Department in administering the Act. (2) Clarifies that neither the Ombudsperson nor the Department has the authority to consider matters that may constitute unlawful discrimination under local, State, or federal law. (3) Makes numerous technical changes including deleting the registration requirement by an entity. (4) Pushes back the repeal date of the entire Act by one year to July 1, 2022. Passed both chambers.
(Althoff, R-Crystal Lake; Tryon, R-Crystal Lake) requires a copy of a lis pendens for a residential mortgage foreclosure in the program area to be filed electronically with the Department of Financial and Professional Regulation after July 1, 2016. Passed both chambers.
(Althoff, R-McHenry; Nekritz, D-Buffalo Grove) extends the sunset for current law until December 31, 2020. It requires work to be done or materials furnished to obtain a lien within three years for residential property and five years for any other kind of property. Passed both chambers.
(Biss, D-Skokie; Williams, D-Chicago) makes the following changes to the Act.
(1) Expands the definition of protected “personal information” to include a person’s first name or first initial and the last name that is encrypted or redacted but the unlocking keys have been breached if one of several “data elements” have also been unlawfully acquired. (2) Expands “data elements” to include medical information, health insurance information, unique biometric data. (3) Expands protected “personal information” to include user name or email address and password or security question information that permits a person’s online accounts to be breached. (4) Requires a data collector that owns or licenses, or maintains or stores but does not own or license, records that contain personal information of Illinois resident to implement and maintain reasonable security measures to protect those records from unauthorized access or use. (5) Compliance with the federal HIPAA complies with this Act as long as the covered entity provides notice of a breach to the Illinois Attorney General within notifying the Secretary of Health and Human Services. Effective January 1, 2017.
Record contained sufficient evidence to support jury’s $12.9 million in compensatory damages, as well as $5 million punitive damages award in plaintiff’s action alleging, among other things, that defendants tortiously interfered with settlement agreement that plaintiff had with third-party (insolvent) debtor calling for debtor to pay plaintiff $12.9 million from proceeds of sale of company that was purchased by defendants, where defendants, with full knowledge of settlement agreement, induced debtor to structure sale of company that gave debtor only small amount of purchase price in cash with vast amount of purchase price taking form of defendants’ cancellation of debts that debtor owed to defendants. Ct. rejected defendants’ argument that record failed to show that they were aware of terms of settlement agreement or of debtor’s obligation to pay plaintiff proceeds from sale of company. Defendants, though, were entitled to $524,000 offset from money plaintiff had received from debtor’s bankruptcy estate. Moreover, Dist. Ct. erred in vacating $12.9 in compensatory damages that jury had separately imposed on defendants’ owner in plaintiff's unjust enrichment claim, where record showed that owner had encouraged approval of terms of company sale in effort to defraud plaintiff out of cash proceeds from sale of company.