The Colorado Division of Real Estate has issued a position statement attempting to clarify which associations must register under the new state law, HB 10-1278.
According to the position statement, unit owners associations that are not subject to all of CCIOA (CRS Section 38-33.3-301) should be exempt and do not need to register. In other words, associations may be exempt if they were formed before CCIOA’s effective date of July 1, 1992, AND they have not elected to be treated under CCIOA. However, this position statement does not have the force of law, and may be contrary to the language of the bill, HB 10-1278.
Therefore, Altitude Community Law recommends that ALL community associations register with the state, regardless of the date they were formed.
The deadline for registration was March 1, 2011. If you have any questions about whether your association is required to register, feel free to contact one of our attorneys at 303.432.9999.