Legal Question in Real Estate Law in Illinois

Non Profit Condo Associations

Is in legal for above assoc. to put any available money they have in an interest bearing account? If so, to what extent please. Thank you


Asked on 8/25/08, 1:28 pm

1 Answer from Attorneys
Nicholas Chrisos Nicholas G. Chrisos Attorney at Law

Re: Non Profit Condo Associations

I believe they should have that authority but some limited research into that question yielded no answers. I didn't see any portion of the condo association law prohibiting it so it's probably legal unless the association docs themselves prohibit it. Perhaps I can find a condo association specialist if you want more information.

Read more
Answered on 8/25/08, 2:38 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois