Just a few minutes ago, Governor Hickenlooper signed House Bill 11-1124 (“HB 1124”) into law. As you know from recent blog postings, HB 1124 addresses the Conflicts of Interest Policy that community associations in Colorado are required to adopt.
In particular, 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.
As we announced in our March 29th blog posting, Winzenburg, Leff, Purvis & Payne (“WLPP”) 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 firstname.lastname@example.org by no later than May 31, 2011. 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 that may arise.