Sneak Peek Services
As an HOA focused law firm, we offer many services that would benefit your association. Below are some sneak peaks of the services we offer! If you would like to discuss any of the options below or have questions, please feel free to email us at [email protected] or call us at 303-432-9999.
Corporate Transparency Act
CTA Service
The CTA creates a new reporting requirement under which Reporting Companies must file a Beneficial Ownership Information (“BOI”) report with the Financial Crimes Enforcement Network (“FinCEN”) by January 1, 2025. Altitude has decided that it will act as a third-party service provider in filing BOI reports for associations. Download our information sheet below for details on our new CTA service, or you can vist our Corporate Transparency Act page to submit a request!
ALERT:
On December 3rd the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in the case of Texas Top Cop Shop, Inc. et al. vs. Garland. That Court determined that the CTA reporting requirements are likely unconstitutional and granted a preliminary injunction that blocks the Financial Crimes Enforcement Network (“FinCEN”) from enforcing the CTA requirements. The ruling has nationwide application and applies to all corporations, including community associations.
This would be great news for associations if the ruling was upheld. However, the Department of Justice filed a notice of appeal, which may result in a stay on the injunction. And, regardless of the ruling on that appeal, there may be further appeals. Ultimately, associations might still have to comply with the CTA.
At this juncture compliance is voluntary, as FinCEN will not enforce violations of the CTA while the injunction is in place. As the matter is unresolved, our continued recommendation is to comply with the CTA until a final judgment is determined, as this is the most prudent approach.
Download the CTA Information Sheet
Policy Updates
9 Required Policies
Pursuant to C.R.S. §38-33.3-209.5 of the Colorado Common Interest Ownership Act, an association is required to adopt nine policies. We can draft all nine required policies for a fixed fee.
Download the 9 Required Policies Information Sheet
Recommended Policies
While not required under Colorado law, the information sheet below contains a list of standard recommended policies that may be appropriate for your association.
Download the Recommended Policies Information Sheet
Covenant Enforcement, Conduct of Meetings, and Collections Package
On June 3, 2022, Governor Polis signed HB22-1137. The new law revised various sections of CCIOA and requires associations to update the following three policies: Covenant Enforcement, Conduct of Meetings, and Collections. Then, in June 2024, Governor Polis signed HB24-1233 and HB24-1337 which revised various sections of CCIOA with respect to the collection and foreclosure of delinquent assessments. If your association did not update your policies after HB22-1137, we recommend this package to bring all three policies in compliance with the 2024 updates.
Download the Covenant Enforcement, Conduct of Meetings, and Collections Package Information Sheet
HB24-1233 and 1337 Policy Update
On June 3, 2024, Governor Polis signed HB24-1233. This new law, in addition to HB24-1337, revised various sections of CCIOA with respect to the collection and foreclosure of delinquent assessments. Because of the changes, we are recommending associations adopt a new Collection Policy to meet the new law.
Download the HB24-1233 and 1337 Policy Information Sheet
SB23-178 Policy Updates
On May 17, 2023, Governor Polis signed SB23-178. The new law revises C.R.S. §38-33.3-106.5 of CCIOA, part of which addresses the use of xeriscape and drought-tolerant landscaping. Highlights of the new bill are explained in the information sheet below.
Download the SB23-178 Information Sheet
Insurance Claims Submission and Allocation of Deductible Policy and Procedure
With skyrocketing insurance costs and continued water intrusion claims, associations should ensure they have clear and easy-to-follow procedures in place for filing insurance claims and allocating deductibles to the appropriate parties.
Download the Insurance Claims Submission and Allocation of Deductible Policy and Procedure Information Sheet
Water Leak Policy
One of the most difficult situations for boards and community association managers to respond to is a water leak situation. Who is responsible for repairing what? Who is supposed to investigate? What if someone’s negligence caused the water leak? In order to more efficiently determine the source of leaks and mitigate damage caused by such leaks, associations should consider adopting a water leak policy.
Download the Water Leak Policy Information Sheet
Personal Identifying Information Policy
A PII policy is necessary for associations to establish a process for the security and destruction of documents containing personal identifying information in its possession, whether in paper or electronic format.
Download the Personal Identifying Information Policy Information Sheet
Camera Policy
Prior to installing cameras in an association, the board should adopt a camera policy to address the potential liabilities that cameras create.
Download the Camera Policy Information Sheet
Towing Policy
When individuals fail to comply with parking rules, the HOA may leave the Board of Directors looking for enforcement options, including the possibility of towing improperly parked vehicles. HB22-1314, which was signed into law in 2022, and most recently this year’s HB24-1051, created substantial new towing requirements that regulate towing carriers.
Download the Towing Policy Information Sheet
Reasonable Accommodation Policy
To minimize potential discrimination claims within your association, we recommend adopting a Reasonable Accommodation Policy. The policy should set forth a process for requesting reasonable accommodations, reviewing the requests, and making decisions on the same.
Download the Reasonable Accommodation Policy Information Sheet