House Bill 1237 Records kept by HOAs

House Bill 1237 was sponsored earlier February by the State Representative Angela Williams.

The bill concerns the records kept by the homeowners associations of common interest communities (CIC) making the records more accessible to the homeowners.

“The bill adopts, with some revisions, suggested language from the commission on uniform state laws concerning the records required to be kept by a unit owners’ association concerning the finances, board meeting minutes, and other affairs of a common interest community under the Colorado Common Interest Ownership Act (CCIOA)”.

In short, a CIC is a community that has mandatory assessments.  The CICs with mandatory assessments are subject to the CCIOA. The CCIOA applies to in a couple of ways: a) to those communities formed prior to the CCIOA taking effect July 1, 1992, b) to those communities formed after.

To make it more confusing, the CCIOA provides expectations whether the communities must adhere to the full CCIOA implementation or parts of the act. Additionally, the Senate Bills 89 and 100 passed in 2005 and 2006 have added policies for the associations to implement, clarification to the act,  and protections for the homeowners.

The links below would help you dig deeper should you like to know more.

HB 12-1237 The bill, history, votes, etc.

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

 

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