A commonly missed provision of the Colorado Common Interest Ownership Act (“CCIOA”) requires that virtually all information provided to or available to one director relating to the HOA– must be shared with all directors. The intent of this provision of CCIOA is to ensure that every director of an HOA has the information he/she needs to effectively participate in the governance of their communities. In addition, this provision is intended to make certain that directors do not leave one or more fellow directors out of the information loop.
CCIOA, at C.R.S. 38-33.3-303(1)(b), provides as follows:Continue Reading CCIOA 101 for HOA Boards: Dissemination of Information to All Directors