HB 12-1237:CCIOA Record Keeping Requirements Overhauled

On 5/29/2012, the governor signed the House Bill 12-1237. The bill overhauls the record keeping requirements of Homeowner Associations mandated by the Colorado Common Interest Ownership Act (CCIOA).  The following is not a legal advice but a summary of the requirements. The bill also talks about, among other things, privacy issues, inspection rights of unit owners and the procedures thereof.

  • Detailed records of expenditures
  • Records of claims for construction defects ….
  • Minutes of all meetings
  • Records of all actions taken by unit owners, or executive board without a meeting and the committees of the executive board
  • Written communications among, and the votes
  • Names, physical addresses, number of votes, etc. of unit owners in in a form ….
  • Governing documents
  • Financial statements as described in Colorado Revised Statutes 7-136-106 for past 3 years, and tax returns for past 7 years
  • List of board members and officers
  • Its most recent annual report to the Secretary of t State
  • Financial records complying with CRS 38-33.3-316(8)
  • Most recent reserve study, if any
  • Contracts
  • Records of approval or denial of actions taken by the board or the architectural control committee
  • Ballots, proxies, etc
  • Resolutions adopted by the board ….
  • All written communications to all unit owners for past 3 years

Colorado Common Interest Ownership Act (CCIOA) – Title 38 of the Colorado Revised Statutes

 

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