We have discussed in previous postings that S.B. 100 (the “Act”) was signed by Governor Owens on June 6, 2005. Portions of the Act became effective immediately, while the balance of the Act becomes effective on January 1, 2006. For the most part, the Act modifies the provisions of the Colorado Common Interest Ownership Act (“CCIOA”). We continue to receive a number of questions about the applicability of the Act to pre-CCIOA associations (those formed before July 1, 1992), as well as associations that were exempt from the provisions of CCIOA, and specifically, whether the mandatory responsible governance policies required by the Act must be adopted by all associations.
Continue Reading S.B. 100 – What Associations Does It Apply To?