HomeMy WebLinkAboutORDINANCE - 923 - 5/7/1974 - REQUIRING DISCLOSURE OF INTERESTSORDINANCE NO. 923
AN ORDINANCE REQUIRING DISCLOSURE OF INTERESTS IN REAL ESTATE IN
CERTAIN CASES
WHEREAS, the President and Board of Trustees of the Village of Elk
Grove Village deem it necessary that they be aware of interests and iden-
tities of all persons making application for benefits or relief from any
Village ordinance governing the use of real estate; and
WHEREAS, it is the purpose of this ordinance to require disclosure
of the true identities of all parties having interests in real estate for
which a permit or license is requested;
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage, State of
Illinois:
Section 1. Definitions As used in this ordinance,
AGENT means a person authorized to act for another person or
corporation;
APPLICANT means one who applies for any benefits on behalf of
himself or some other entity;
BENEFICIAL INTEREST means any i.nterest in a land trust;
BENEFICIARY means any person, corporation or other entity having
a beneficial interest in a .land trust;
CORPORATION means a body of persons authorized by law to act
together as a single person, and, for the purpose of this ordin-
ance, includes any association, joint stock company, syndicate,
or partnership;
LAND TRUST means an express agreement whereby the legal and equit-
able title to real estate is held by a Trustee for the benefit of
beneficiaries who have the exclusive right to manage and control
said real estate;
LESSEE means one who has an interest in real estate by virtue of
a lease;
NOMINEE means one designated to act for another, with limited
authority;
OPTION HOLDER means one having the right to pug+ ase real estate
upon compliance with conditions named in a contract; and
STOCKHOLDER means one owning certificates of stock in a corpora-
tion or membership in an association, joint stock company, synd-
icate, or partnership.
Section 2. ApplYcations
Any application to the Village Board of Trustees or Village Boards
and Commissions for authorization, benefit, license, permit, varia-
tion, zoning amendment or planned unit development relating to real
estate shall be signed by the owner, lessee, option holder, agent,
or nominee of either.
(a) If the application is made by a person other than the fee
owner, it shall be accompanied by an affidavit of the owner
that the person signing the application has authority to make
the application; and the application shall disclose the full
names, addresses, and telephone numbers of the applicant and
owner.
(b) If the applicant or the owner is a corporation, the application
shall disclose the names and addresses of the officers, direc-
tors, registered agent, and those shareholders or members own-
ing in excess of five per cent of the outstanding stock or
interest in the corporation.
(c) If the applicant is a trustee, the full name, address, tele-
phone number, and the extent of the interest of each benef;c-
iary must be disclosed.
(d) If the applicant is a beneficiary, nominee, or option holder,the
application must disclose the name,address, and telephone number
of those persons or entities for whom he is acting, and if it
is a corporation, the provisions of subparagraph (b) of this
section shall be complied with.
Section 3. Penalty
Any person making a false or incomplete statement in the applic-
ation shall be guilty of a misdemeanor and subject to a fine of
Five Hundred Dollars ($500.00).
After a statement is determined to be falsified, missing or
incorrect, a written notice of the omission or falsification
shall be sent to the applicant; each day that elapses until the
date the required information is furnished or corrected shall
constitute a separate offense.
Section 4. Severability
If any provisions of this ordinance shall be held unconstitut-
ional, invalid, or illegal by a court of competent jurisdiction,
such decision shall not affect the validity of the remaining
provisions of this ordinance.
Section 5. Effective Date
This ordinance shall be in full force and effect from and upon
its passage, approval and publication according to law.
PASSED this 7th day of May
1974.
APPROVED this 7th day of May , 1974.
VOTE: AYES 6
NAYS- Charles J. Zettek
ABSENT 0
Village President
ATTEST:
by Fay Bishop
Eleanor G. Turner/ Deputy Clerk
Village Clerk
Published this 15thday of May 1974 in the Elk Grove Herald.