Conflicts of Interest Bill Just Passed Colorado Senate
The Colorado Senate just passed House Bill 11-1124 ("HB 1124") without amendments on a 23 to 11 vote. As we more fully described in our March 22nd blog posting, the bill enumerates the provisions which must be present in the conflicts of interest policy that every homeowners' association ("HOA") in Colorado is required to adopt. In addition, HB 1124 requires that an individual who runs for a seat on the board of a special district must disclose whether he or she serves on the board of an HOA located within the special district.
HB 1124 will soon be heading to Governor Hickenlooper for consideration. We fully expect the Governor to sign HB 1124 into law.
We will keep you posted as Governor Hickenlooper considers HB 1124. Also, keep your eye on this blog for the announcment of an exciting service that Winzenburg, Leff, Purvis & Payne will be offering to HOAs relating to the requirements of the bill.