In addition to state law such as the Colorado Common Interest Ownership Act (CCIOA) and the Colorado Revised Nonprofit Corporation Act (CRNCA), homeowner associations in Colorado are primarily governed by the association’s Articles of Incorporation, Bylaws, Declaration of Covenants, Plat Map, Design Guidelines, and Rules and Regulations. These documents are collectively commonly referred to asGo to Resource
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LOAN APPROVAL PROCESS: WHAT TO KNOW BEFORE YOU START
There are times when a community association may need to explore its funding options, such as if it is considering a large construction or renovation project for the community. A loan may be an attractive option to avoid relying on increased assessments, special assessments or reserves alone to fund the project. Ultimately, whether a loanGo to Resource
Do you know both CCIOA and the Nonprofit Act contain “default” provisions that kick in when your governing documents are silent? Although there may be too many of these provisions to discuss in a single article, below are some of the more important ones: Director Qualifications: If the governing documents are silent, a directorGo to Resource
While I celebrate 2020 now being in the past, I send you best wishes for a successful 2021. May we all have toilet paper, hand sanitizer, hope, and optimism in abundant supply in this new year. Last year was the year that was broken, in many cases. It was the year of broken concert toursGo to Resource
What is it? If you’ve come to one of our collections classes or read your Association’s Collection Policy, you may have heard the term acceleration. But what exactly is that? Accelerating means calling due all of the year’s assessments now. If it’s January and you accelerate assessments, all the monthly (or quarterly) assessments due thisGo to Resource