During the 2010 legislative session, House Bill 10-1403 (“HB 1403”) was signed into law by Governor Ritter. The purpose of HB 1403 was to enable the Colorado Secretary of State (“SOS”) to reduce the costs of operations through phasing out postcard notifications and permitting corporations, including nonprofit corporations like homeowners’ associations (“HOAs”), to elect to file a periodic report every other year as opposed to an annual report.
The SOS has announced that distribution of postcard notifications to registered agents will be eliminated on January 1, 2012. As a result, registered agents of HOAs should subscribe to receive free email notifications from the SOS. We recommend that your registered agent sign-up for email notifications now to ensure that your HOA receives important notices and takes steps to remain in good standing with the SOS.
To learn more about the periodic reports and other information HOAs should know about the SOS, check out Business Organizations Frequently Asked Questions.