CONDO-REVERSE MORTGAGE-FINANCE Senate SponsorsSen. Ira I. Silverstein 1/8/2013SenateSession Sine Die 765 ILCS 605/19.1 newAmends the Condominium Property Act. Provides that notwithstanding any provision in any condominium instrument or bylaw, a condominium association must not: impair or restrict a condominium unit owner from securing a reverse mortgage, so long as the reverse mortgage does not adversely affect the rights of an association to collect an assessment; prevent, impair, or restrict a unit owner from borrowing money on the unit by refusing to cooperate with a lender or any federal program; or levy a fee to process or to close on a reverse mortgage or other similar financing transaction. 2/7/2012SenateFiled with Secretary by Sen. Ira I. Silverstein 2/7/2012SenateFirst Reading 2/7/2012SenateReferred to Assignments 2/17/2012SenateAssigned to Judiciary 2/28/2012SenateTo Judiciary Subcommittee on Property and Environment 3/9/2012SenateRule 2-10 Committee Deadline Established As March 30, 2012 3/30/2012SenateRule 3-9(a) / Re-referred to Assignments 1/8/2013SenateSession Sine Die