This committee shall advise the Board on the selection of an insurance agent and the purchase of sufficient insurance as required by the Declaration of Ownership and the Illinois Condominium Act, and as considered sufficient to protect the Americana Towers Condominium Association. Sufficient insurance shall mean such insurance as necessary to replace Association property in the event of damage from perils, such as fire and floods. Also sufficient insurance shall mean such insurance as necessary to protect the Association in the event of liability claims.
This committee is also responsible for advising the Board if the selection of a representative, to collectively act on behalf of the unit owners to protest real estate taxes, would be in the best interest of the Association. If a representative is recommended, then this committee is responsible for recommending to the Board a suggested representative. |