As you probably know, the Colorado Division of Real Estate is holding a hearing on permanent rule-making for manager licensure on Wednesday, March 4, 2015 at 10:00 am at the Ralph L. Carr Colorado Judicial Center in Conference Room 1D.
In advance of this hearing, the Division has released the following changes to the proposed rules which were originally published. The first changes relate to proposed rule D10 which now allows management companies to be named as an "additional insured" on the fidelity coverage which associations are required to carry. The level of fidelity coverage required to be carried has also been revised. You will also notice that the initial license renewal period (proposed rule D1), annual renewal (proposed rule D2) and reinstatement timeframe (proposed rule D5) have also been revised.
Finally, minor revisions were made to proposed rule B1 relating to when continuing education is required.
A big hat goes off to CAI’s Manager Licensure Task Force for their diligent work on the issue of fidelity insurance coverage. Your work has made a huge difference for management companies in Colorado!