Ill. Admin. Code tit. 74, § 290.1205
b) In addition to complying with Section 290.1203, leases for real property must contain:
6) Disclosure of identity of owners, trust beneficiaries, and shareholders entitled to receive more than 7½% of the total distributable income of any corporation having an interest in such property, where required by Section 3.1 of "AN ACT to prevent fraudulent and corrupt practices in the making or accepting of official appointments and contracts by public officers" (Ill. Rev. Stat. 1987, ch. 102, par. 3.1). Suggested language is set forth below:
AFFIDAVIT
The undersigned, being first duly sworn on oath states that he is (State Title) and that the names of all the beneficiaries of a certain title holding trust, established by a Trust Agreement dated _______, identified as Trust No. _____, known as ______________________ are:
(List beneficiaries)
The undersigned further states that the names of all shareholders entitled to receive more than 7½% of the total distributable income of any corporation having an interest in the real property are:
(List shareholders)
| (Notarization) | (Signature of Trustee |
However, if stock in a corporation is publicly traded and there is no individual having greater than a 7½% interest, then a statement to that effect, subscribed to under oath by an officer of the corporation or its managing agent, will satisfy the disclosure statement requirement.
7) Subject to appropriation clause when the lease is for more than one fiscal year. Suggested language is set forth below:
Obligations of the State shall cease immediately without penalty or further payment being required if, in any fiscal year, the Illinois General Assembly or federal funding source fails to appropriate or otherwise make available funds for this lease.
(Source: Amended at 14 Ill. Reg. 5757, effective April 5, 1990)