Resources Archive - Page 64 of 79 - Altitude Community Law

What Is Fidelity Insurance And Why Your Association Needs It

Posted October 1, 2011

Many community associations are required by their declarations to carry “fidelity insurance,” but what exactly is fidelity insurance? What does it cover and, perhaps more importantly, what doesn’t it cover? In order to fully protect an association, it is important to understand the limitations and exceptions of an association’s fidelity insurance. In simple terms, fidelityGo to Resource

Foreclosures and Receiverships: Which Action Should the Association Pursue?

Filed Under Collections, Foreclosure, Litigation

Posted October 1, 2011

The typical process for collecting unpaid assessments is to proceed with a lawsuit after an owner has failed to respond to a thirty-day demand letter. This route, although successful in many cases, does not always provide the desired results. Associations are therefore looking to alternative methods of collecting unpaid assessments. Judicial foreclosures and receiverships areGo to Resource

2011 Legislative Session Wrap Up – New Laws That Will Impact Colorado Homeowners Associations

Filed Under Legislative Updates

Posted September 30, 2011

2011 was an active year for legislation that will affect community associations of all kinds in Colorado. Overall most bills were positive and did not add significantly to the administrative burdens of managing and governing homeowners associations. But there are new laws that every Colorado homeowners association should be aware of. The following checklist discussesGo to Resource

CCIOA Corner – Terminating Developers’ Contracts

Filed Under Governance, Misc

Posted September 30, 2011

If your community recently transitioned from developer control, you may be able to terminate some or all of the contracts entered into by the developer without penalty pursuant to Section 305 of CCIOA. Section 305 sets forth the types of contracts that are subject to this termination provision, and includes the following agreements: Management contractsGo to Resource

CCIOA Corner – Meetings

Filed Under Governance, Meetings / Action Without Meetings

Posted September 30, 2011

What do you do if your association’s governing documents do not have a quorum requirement? If your community was created on or after July 1, 1992, you go to Section 309(1) of CCIOA. Section 309(1) provides post-CCIOA communities with a default quorum requirement if their documents are silent. Specifically, Section 309(1) indicates that if yourGo to Resource

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