At the midpoint of the 2011 Legislative Session, we continue to follow two bills which appear headed for passage and may impact Colorado’s community association industry:
HB 11-1095, the Secretary of State Identify Theft bill, discussed in our February 24, 2011 post, will require a password to change or file corporate information
HB 11-1124, The Metro District Conflict of Interest bill, discussed in our March 1, 2011 post — will require disclosure of conflicts of interest at HOA elections and require adoption of a conflict of interest policy containing specific information
Both of these bills, if enacted into law in their current form, may require some changes to the operation of owners associations to stay in compliance, but neither bill would seriously burden well-managed associations. We will let you know if any amendments are made to either bill that would change our opinion about their impact on our State’s community association industry.
The session is not over yet! We continue watching out for any late status bills, or resurrection of postponed bills, which might impact HOAs, and we’ll keep you updated.