With annual meeting season upon us, it’s a great time for the boards of HOAs to provide owner education as required by the Colorado Common Ownership Act. CCIOA, at C.R.S. 38-33.3-209.7, requires associations to provide free education at least yearly to owners on ". . . the general operations of the association and the rights and responsibilities of owners, the association and its executive board under Colorado law." This provision of the statute permits the boards of HOAs to determine how to comply with the requirements for owner education. In addition, owner education is not required for time-share communities.
HOAs have wide latitude to decide how to deliver the education. Some associations provide education at their annual meetings while others utilize newsletter articles, their HOA website and other methods of communication to provide the required information. Some HOAs will bring in experts and guest speakers to educate the members and others will have members of the board or management provide the instruction.
Even if CCIOA did not require HOAs to provide yearly education to their owners, it’s always a great idea to keep owners in the loop on the operations of their association and the rights and responsibilities of all of the folks involved in their community.
Keep your eye on this blog for more information you need to know about CCIOA!