Association Disclosures Following Transition
In my March 30th blog posting, I outlined the documents and other items that must be produced by a declarant to the homeowners’ association within 60 days following transition of the association from declarant to owner/association control. While the declarant clearly has responsibilities to the association following transition, the association subsequently has the responsibility to make “public disclosures” within 90 days after assuming control from the declarant.
The Colorado Common Interest Ownership Act (“CCIOA”), atC.R.S. 38-33.3-209.4, requires an association to make the following information available to unit owners upon upon reasonable notice to the association:
● The name of the association;
● The name of the association’s designated agent or management company, if any;
● A valid physical address and telephone number for both the association and the designated agent or management company, if any;
● The name of the common interest community;
● The initial date of recording of the declaration; and
● The reception number or book and page for the main document that constitutes the declaration.
(If this list looks familiar, it’s the same information associations must utilize when registering with the HOA Information and Resource Center.)
Associations are provided with wide latitude in how to make this information available to owners. These disclosures may be made by:
○ Posting on an internet web page with accompanying notice of the web address via first-class mail or e-mail;
○ Maintenance of a literature table or binder at the association’s principal place of business; or
○ Mail or personal delivery.
It should be noted that the costs associated with making these disclosures must be accounted for as a common expense liability. In other words, associations cannot charge owners individually when they request this information.