As we announced in our blog posting earlier today, the Colorado Senate just passed House Bill 11-1124 (“HB 1124”) which will soon be sent to Governor Hickenlooper for consideration. Since we expect the Governor to sign the bill into law, there’s no time like the present to make sure your HOA’s Conflicts of Interest Policy complies with the requirements of the bill.
HB 1124 requires that a Conflicts of Interest Policy must contain the following provisions:
- A definition or description of the circumstances under which a conflict of interest exists;
- The procedures to follow when a conflict of interest is identified, including:
- How the conflict of interest must be disclosed;
- To whom the conflict of interest must be disclosed; and
- Whether the board member with the conflict of interest must recuse him or herself from discussing or voting on the issue.
Winzenburg, Leff, Purvis & Payne (“WLPP”) is pleased to announce that we will review your HOA’s Conflicts of Interest Policy for free to determine whether the Policy complies with the requirements of HB 1124 outlined above.
You don’t have to be a current client of WLPP to take advantage of this free offer – any HOA in Colorado is invited to participate! Here’s what you need to do:
The manager or a member of the board of directors of your HOA should send an email to email@example.com. Please place the name of your association in the subject line of the email and attach an electronic copy of your HOA’s Conflicts of Interest Policy. In the body of the email, please let us know who we should email with the results of our review and how we can contact that individual with any questions we may have.
This free offer is open until May 31, 2010. If for some unforeseen reason the Governor doesn’t sign HB 1124 into law, the provisions of HB 1124 are still excellent and worthy of consideration by your association.