When it comes to director duties and obligations, people throw around lots of terms, such as “fiduciary”, “duty”, and “best interests”. But rarely does anyone reference a specific statute, or specific language, in a statute addressing board duties. The truth of the matter is that such a statutory provision does exist. It’s cleverly hidden inGo to Resource
Governance Resources
One instance in which Colorado law favors transparency in homeowner associations is in the form of open Board meetings. Specifically, Section 308 of the Colorado Common Interest Ownership Act (“CCIOA”) provides that meetings of an association’s Board of Directors are generally open to attendance by all homeowners. The spirit of the law is to allowGo to Resource
Is it my imagination or are people getting less patient, more critical, more demanding, and less understanding? It seems over the last few years boards have been criticized and admonished more, while being appreciated and understood less. No wonder it’s becoming more and more difficult to fill board vacancies. After all, why would someone volunteerGo to Resource
More often than not, governing documents contain restrictions on commercial vehicles, but the term “commercial vehicle” means something different to different people. Although it is clear that some vehicles are undeniably “commercial” in nature, many vehicles fall somewhere in the gray area. So how do owners know whether their vehicles will be considered “commercial” andGo to Resource
An association’s maintenance and insurance obligations are typically set forth in the association’s covenants. However, in many instances, simply reading the maintenance and insurance provisions of the declaration will not give boards or managers clear answers. Often times, provisions of the declaration must be cross referenced and read in conjunction, and statutes consulted, before anGo to Resource