The Colorado Division of Real Estate (“Division”) has published a Position Statement on whether common interest communities formed before July 1, 1992 (commonly known as “pre-CCIOA communities”) are required to comply with the new HOA Registration requirements. In the Position Statement, the Division noted that “The interpretation of whether the registration requirement applies to entities not formed under CCIOA has caused significant confusion amongst homeowners’ association registrants.”
Based upon an interpretation of applicable provisions of the Colorado Common Interest Ownership Act (“CCIOA”), the Division published the following statement: “. . . it is the position of the Director of Division of Real Estate that homeowners’ associations formed prior to July 1, 1992, that have not elected treatment under CCIOA, are not required to comply with the registration requirement set forth in 38-33.3-401(1), C.R.S.”
Legislators are currently considering whether introduction of a bill to refine provisions of the HOA registration law is necessary. We will provide you with an update if “clean-up” legislation is introduced in the Colorado General Assembly.
Finally, since courts may interpret the new law differently than the Postition Statement, we are continuing to recommend that every association in Colorado register with the Division. Since the registration fee is only $8.95 – it’s an affordable way to ensure your association is protected from penalties for failing to register.