In our April 15th blog post, we reported that the Owners Association Conflict of Interest bill, HB 11-1124, was signed into law. This bill amends Section 38-33.3-209.5 of CCIOA to require conflict of interest policies to:
- Define when conflict of interests exist
- Adopt procedures to follow when a conflict of interest exists, including disclosure rules and when a conflicted board member must recuse themselves from voting
- Require a periodic review of conflict of interest policies
Contact us if you would like us to revise your conflict of interest policy to comply with the above. And, if Altitude Community Law prepared your conflict of interest policy, we’ll revise it for free!