HB-1278 – All Homeowners Associations governed by CCIOA (Colorado Common Interest Ownership Act) must, annually, register and pay the required fees, with the Colorado Department of Regulatory Agencies Division of Real Estate. This bill is effective 1/1/2011. All registrations must be completed online prior to March 1, 2011. The registrations must be renewed annually. An association is exempt from the fee, but not the registration, if a)the annual revenue is $5000 or less, or b) not authorized to make assessments.
The bill creates “HOA Information and Resource Center” under the Division of Real Estate headed by “HOA Information Officer and will be a resource for consumers and HOA’s to understand basic rights and duties under CCIOA. The HOA Information Officer will be responsible for tracking inquiries and complaints and report and reporting his/her findings to the Director of the Division of Real Estate.”
More information available at: http://www.dora.state.co.us/real-estate/licensing/subdivisions/Subdivisions.htm