HB15-1362, Concerning a Requirement that Multi-Family Executive Boards created before 1992 are now Subject to CCOIA (M. Carroll – Melton)

Common interest communities created before the July 1, 1992, enactment of the “Colorado Common Interest Ownership Act” (Act) are exempt from many of the Act’s provisions, including a provision requiring a common interest community’s executive board to give notice to all unit owners of, and hold a meeting about, the executive board’s adoption of a new proposed budget. The bill requires common interest communities that predate the Act to comply with the budget reporting provision. Defeated. Read more here.