Similar to most states, Colorado sets forth minimum requirements of insurance for common interest communities under the Colorado Common Interest Ownership Act.
One of the most frequent questions posed to us surrounds the requirements surrounding notice of membership and board meetings. While the Colorado Common Interest Ownership Act does not require notice of board meetings to membership, Section 38-33.3-308(1) does outline certain requirements with respect to notice of annual or special membership meetings of the unit owners. Therefore, it is important to understand the specific requirements of the Act with regards to notice of these meetings.
After receiving numerous complaints related to unscrupulous community association managers, Colorado sought to more closely regulate community association managers through the introduction of House Bill 13-1277 in 2013. Codified in Section 38-33.3-402 of the Colorado Common Interest Ownership Act, any person who manages the affairs of a common interest community on behalf of an HOA for compensation, must now meet minimum qualifications, and obtain and maintain a license. Section 12-61-1002 makes it unlawful for any person to engage in, or hold themselves out as qualified, the business of community association management without first having obtained a license or during any period in which the license is revoked or suspended.
Colorado condominiums have all kinds of technical and legal requirements regarding notice when changing by-laws or anything which has previously been placed into the organizations documents of governance. It is even more complicated when dealing with mortgagees who are often referred to in the by-laws. Here is a simplified explanation of how to deal with some issues Colorado Boards frequently must be concerned.
We often receive questions from concerned Colorado association members regarding the law surrounding closed-door executive meetings held by their board or committee. In 1992, Colorado enacted Colorado Revised Statute § 38–33.3, also known as the Colorado Common Interest Ownership Act, to strengthen homeowner associations and common interest communities. The Act attempts to establish a comprehensive and uniform framework for the creation and operation of common interest communities.