ALERT! – NEW HOA RECORDKEEPING LAW EFFECTIVE 2013

Homeowners associations in Colorado are going to have to do a lot more recordkeeping starting 2013. One of the handful of new laws going into effect Jan 1st include ‘HB 1237‘. The new law addresses: HOA records which must be maintained and produced; HOA records which may be withheld from production; HOA records which must be withheld from production; Procedures for requesting HOA records; Charges for assembling, copying, and producing records; and the use of membership lists. In addition to complying with new HOA records law, it’s important to update your Policies to comply with new requirements (consult your legal team to update your Policies).

Is your HOA in Compliance?

Colorado Regulations require all HOA’s to provide specific information in writing or on a website, including:

• contact information for the HOA and its management company or agent.
• financial information, including an operating budget, a list of all insurance policies and a list of all applicable assessments.
• minutes of all meetings during the year.
• copies of all governing documents including bylaws and declarations.
• the result of its most recent annual financial audit or review, which must be completed at least every two years.
• and more…ASAP will facilitate and maintain your compliance with all legal requirements.

SB-100 Reference Materials -  SB-05-100 Legislation

Colorado Common Interest Ownership Act (CCIOA) - 2011 Unannotated , HB 09-1359

Let ASAP help you stay in compliance. We can facilitate and maintain your HOAs documentation to comply with CCIOA and COSB100.

HOADirect, ASAP’s web-based management tool can help your HOA stay in compliance. With an HOADirect customized website members can view association information online, anytime — an office that never closes!