On Friday, January 21, 2011, House Bill 1124 (“HB 1124”) was introduced in the Colorado House of Representatives. Sponsored by Representative Angela Williams, HB 1124 would amend the Colorado Common Interest Ownership Act relating to conflicts of interest of individuals serving on the executive boards of homeowner associations.
In particular, the legislation would require directors to…
House Bill 1110 (HB 1110) was introduced today in the Colorado House of Representatives. Sponsored by Representative Cindy Acree, HB 1110 would amend the Colorado Revised Nonprofit Corporation Act (“Nonprofit Act”) to extend some provisions of the Colorado Common Interest Ownership Act (“CCIOA”) and other requirements to “Residential Nonprofit Corporations” which are defined in the legislation as “a nonprofit corporation that has residential members.” Based upon current provisions of the legislation, it is clear that most homeowner associations in Colorado would be required to comply with the requirements of the bill. In addition, members of associations would fall within the definition of "residential member."Continue Reading HOA-Related Bill Introduced in Colorado House of Representatives
On Wednesday, January 12th, the Colorado General Assembly will convene for the 2011 legislative session. We expect community association issues to be front and center once again and will provide you with updates on bills affecting associations as they are introduced and proceed through the legislative process.
The website for the HOA Information and Resource Center, created by the Colorado Division of Real Estate (“Division”), is up and running. The website currently provides information on the HOA Registration, methods that can be utilized for homeowners to submit complaints to the Division, consumer resources and contact information for Aaron Acker – the HOA…
As promised by the Colorado Division of Real Estate (“Division”), the online HOA Registration has gone live.
Here are some important reminders:
● All HOAs must formally register online with the Division prior to March 1, 2011.
● The registration fee for each HOA will be $8.93. Associations with annual revenues of $5,000 or less OR are not…
The Colorado Division of Real Estate (“Division”) has just provided the following updated information on the HOA Registry:
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As we approach 2011, it’s the perfect time for boards of community associations to take a look at the approaches they are using to govern their associations and address big picture issues. Here are some New Year Resolutions boards may want to consider:Continue Reading 2011 New Year Resolutions for Boards
On December 18, 2010, President Obama signed S.3987 into law. As we noted in our December 14th blog posting, the purpose of the legislation is to limit the types of businesses and entities defined as “creditors” which are required to comply with the Red Flags Rule (“Rule”).Continue Reading President Obama Signs Legislative Fix to Red Flags Rule into Law
The Colorado Department of Regulatory Affairs ("DORA") has promulgated an Emergency Rule that will provide a grace period for HOAs to register with the Division of Real Estate ("Division") through February 28, 2011. In fact, the Rule states: "The purpose of this rule is to provide an immediate and automatic temporary registration to HOA’s who have not been required to register in the past, but are now required to do so pursuant to House Bill 10-1278."Continue Reading Grace Period Granted for HOA Registration
We often hear the terms “proxy” and “ballot” used interchangeably. The documents are not one and the same, and Associations should take care to treat them differently.
A proxy is a document executed by an owner that grants to another person the owner’s right to vote on a given matter in the Association. Generally, an individual who cannot attend a meeting will grant a proxy to another person who will attend the meeting. This helps to ensure that the Association reaches quorum and is able to transact business, and allows the absent party to have a vote in the matters at hand.Continue Reading Proxies and Written Ballots – What’s the Big Difference?
