This morning at CAI’s Wake-Up Call breakfast meeting, Aaron Acker – the HOA Information Officer for the Colorado Division of Real Estate (“Division”) – announced that pre-CCIOA communities will not be required to register with the Division. This means that associations created before July 1, 1992, will not be required to comply with the registration requirement. Continue Reading Pre-CCIOA Communities Exempt from HOA Registration
From Capitol Hill/Legislation
Extension of the Foreclosure Deferment Program Powers Through the Colorado House
In response to the crisis where lenders were foreclosing on an unprecedented number of homes in Colorado, in 2009 Governor Ritter signed into law a Foreclosure Deferment Program (“Program”) which is currently scheduled to expire on June 30, 2011. The Program provides eligible homeowners with an opportunity to defer public trustee foreclosure sales on their homes for a period of up to 90 days while they pursue options to remain in their homes.Continue Reading Extension of the Foreclosure Deferment Program Powers Through the Colorado House
House Bill 1103 – Tax Breaks for Windmills
In August of 2008, the Colorado Common Interest Ownership Act was amended to create C.R.S. 38-33.3-106.7 which prohibits unreasonable restrictions on the installation of “energy efficiency measures” in community associations. At the same time, at C.R.S. 38-30-168, a statute on the books since 1979 addressing the installation of “solar energy devices” in community associations was amended to more fully address the installation of solar panels and to permit residential windmills in associations. Representative Andy Kerr, a champion of green energy, was the sponsor of these significant revisions to Colorado law. Continue Reading House Bill 1103 – Tax Breaks for Windmills
HOA Conflict of Interest Bill Introduced
On Friday, January 21, 2011, House Bill 1124 (“HB 1124”) was introduced in the Colorado House of Representatives. Sponsored by Representative Angela Williams, HB 1124 would amend the Colorado Common Interest Ownership Act relating to conflicts of interest of individuals serving on the executive boards of homeowner associations.
In particular, the legislation would require directors to…
HOA-Related Bill Introduced in Colorado House of Representatives
House Bill 1110 (HB 1110) was introduced today in the Colorado House of Representatives. Sponsored by Representative Cindy Acree, HB 1110 would amend the Colorado Revised Nonprofit Corporation Act (“Nonprofit Act”) to extend some provisions of the Colorado Common Interest Ownership Act (“CCIOA”) and other requirements to “Residential Nonprofit Corporations” which are defined in the legislation as “a nonprofit corporation that has residential members.” Based upon current provisions of the legislation, it is clear that most homeowner associations in Colorado would be required to comply with the requirements of the bill. In addition, members of associations would fall within the definition of "residential member."Continue Reading HOA-Related Bill Introduced in Colorado House of Representatives
Colorado General Assembly Convenes for 2011 Legislative Session
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.
HOA Information and Resource Center Website Up and Running
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
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
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
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President Obama Signs Legislative Fix to Red Flags Rule into Law
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