On Wednesday, January 12th, the Colorado General Assembly will convene for the 2011 legislative session. We expect community association issues to be front and center once again and will provide you with updates on bills affecting associations as they are introduced and proceed through the legislative process.
Molly Foley-Healy
HOA Information and Resource Center Website Up and Running
By Molly Foley-Healy on
Posted in From Capitol Hill/Legislation
The website for the HOA Information and Resource Center, created by the Colorado Division of Real Estate (“Division”), is up and running. The website currently provides information on the HOA Registration, methods that can be utilized for homeowners to submit complaints to the Division, consumer resources and contact information for Aaron Acker – the HOA…
HOA Registration Has Gone Live
By Molly Foley-Healy on
Posted in From Capitol Hill/Legislation
As promised by the Colorado Division of Real Estate (“Division”), the online HOA Registration has gone live.
Here are some important reminders:
● All HOAs must formally register online with the Division prior to March 1, 2011.
● The registration fee for each HOA will be $8.93. Associations with annual revenues of $5,000 or less OR are not…
HOA Registry: New Information from Division of Real Estate
By Molly Foley-Healy on
Posted in From Capitol Hill/Legislation
The Colorado Division of Real Estate (“Division”) has just provided the following updated information on the HOA Registry:
- All HOAs must formally register with the Division of Real Estate prior to March 1, 2011.
- The online registration process will be available for use on January 3, 2011.
- The registration fee for each HOA will be
…
2011 New Year Resolutions for Boards
By Molly Foley-Healy on
Posted in Governance
As we approach 2011, it’s the perfect time for boards of community associations to take a look at the approaches they are using to govern their associations and address big picture issues. Here are some New Year Resolutions boards may want to consider:Continue Reading 2011 New Year Resolutions for Boards
President Obama Signs Legislative Fix to Red Flags Rule into Law
By Molly Foley-Healy on
Posted in From Capitol Hill/Legislation
On December 18, 2010, President Obama signed S.3987 into law. As we noted in our December 14th blog posting, the purpose of the legislation is to limit the types of businesses and entities defined as “creditors” which are required to comply with the Red Flags Rule (“Rule”).Continue Reading President Obama Signs Legislative Fix to Red Flags Rule into Law
Grace Period Granted for HOA Registration
By Molly Foley-Healy on
Posted in From Capitol Hill/Legislation
The Colorado Department of Regulatory Affairs ("DORA") has promulgated an Emergency Rule that will provide a grace period for HOAs to register with the Division of Real Estate ("Division") through February 28, 2011. In fact, the Rule states: "The purpose of this rule is to provide an immediate and automatic temporary registration to HOA’s who have not been required to register in the past, but are now required to do so pursuant to House Bill 10-1278."Continue Reading Grace Period Granted for HOA Registration
Legislative Fix for Red Flags Rule Sent to President Obama
By Molly Foley-Healy on
Posted in From Capitol Hill/Legislation
As we mentioned in our December 8th posting on the Red Flags Rule (“Rule”), implementation of the Rule by the Federal Trade Commission (“FTC”) has been repeatedly delayed since 2008 while members of Congress seek a legislative fix limiting the scope of the Rule. The FTC is currently slated to begin enforcement of the Rule on January 1, 2011. Continue Reading Legislative Fix for Red Flags Rule Sent to President Obama
FHA Re-Certification Deadline Extended
By Molly Foley-Healy on
Posted in From Capitol Hill/Legislation
The United States Department of Housing and Urban Development (“HUD”) has just announced an extension of the December 7th deadline for recertification of condominium projects that had received approval for FHA-backed mortgage insurance prior to October 1, 2008. Continue Reading FHA Re-Certification Deadline Extended
Red Flags Rule Effective January 1st
By Molly Foley-Healy on
Posted in From Capitol Hill/Legislation
It’s not surprising if you haven’t heard of the Red Flags Rule (“Rule”). That’s because since the Rule was originally slated to go into effect in January of 2008, members of the United States Congress have repeatedly asked the Federal Trade Commission (“FTC”) to delay implementation of the Rule while a legislative fix was sought limiting the entities that will be required to comply with the Rule. While that task has not been accomplished, the Rule is currently slated to become effective on January 1, 2011.Continue Reading Red Flags Rule Effective January 1st