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, which include community associations, must file a Beneficial Ownership Information (“BOI”) report with the Financial Crimes Enforcement Network (“FinCEN”). 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!
LATEST CTA DEVELOPMENT:
As stated in our most recent eblast, on December 23rd a panel of the Fifth Circuit Court of Appeals granted a motion to lift the injunction on CTA reporting requirements. This served to reinstate the January 1, 2025 deadline for associations to file their Beneficial Ownership Information (“BOI”) reports with the Financial Crimes Enforcement Network (“FinCEN”). Immediately after, FinCEN provided an extension to January 13, 2025 to file such reports.
Three days later, on December 26th a different panel of the Court entered an Order restoring the injunction. This Order means that the CTA reporting requirements are again suspended, and FinCEN has posted on its website that compliance is again voluntary.
Additionally, on December 31st the Department of Justice sought a stay of the injunction pending the ongoing appeal from the Supreme Court of the United States.
So now we await two court’s decisions: The Supreme Court’s decision regarding the December 31st request for stay, and the Court of Appeals decision on the underlying merits of the case (i.e., the CTA’s constitutionality).
The Supreme Court has set a January 10 deadline for the plaintiff in the Texas Top Cop Shop case to address the Department of Justice’s motion for a stay. Accordingly, the Supreme Court is actively considering whether to lift the preliminary injunction.
The Court of Appeals has set March 25, 2025 as the date for oral argument on the merits. After the briefing is completed and arguments are considered, the Court of Appeals will report its decision.
As we have all seen over the past month, CTA news shifts rapidly and unexpectedly. Although filing is currently voluntary, it is still our strong recommendation that boards gather information to be ready to file, or simply voluntarily comply. We will continue to provide you updates.
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
Governing Documents Updates
Amended and Restated Bylaws
Over the past two decades changes in both CCIOA and the Nonprofit Act, the two statutes that govern Colorado community associations, have served to supersede and supplement provisions typically contained in the Bylaws. Therefore, if you are working off of an old set of Bylaws, chances are they no longer comply with current law and/or are missing significant new requirements.
Download the Amended and Restated Bylaws Information Sheet
Other Recommended Services
Insurance Audit
Do you have questions about whether your association is over-insured? Under-insured? Not meeting statutory requirements? If so, you should have an insurance audit performed by your association’s legal counsel.