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
