A condominium association is an association of unit owners in a condominium building. The association elects a board of directors, which handles the maintenance and repair of common areas, disputes among unit owners, and enforcement of rules and regulations, and condominium fees. The rules and regulations are normally adopted by the board of directors of the association.
Colorado Rules and Regulations of an Association of Owners of a Condominium Association
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FAQ
The Colorado Common Interest Ownership Act (CCIOA) was established in 1992 to form a clear, comprehensive, and uniform framework for the creation and operation of common interest communities.
This law, effective August 10, 2022, prohibits HOAs in Colorado from seeking foreclosure against homeowners based solely on fines for violating community rules.
CCIOA is an acronym for ?Colorado Common Interest Ownership Act? and is pronounced ?Kiowa? (like the Native American tribe). The Colorado Legislature enacted CCIOA effective in 1992 to regulate Colorado HOAs, however, not all provisions apply to pre-1992 HOAs.
Who regulates HOAs in Colorado? In Colorado, HOA's (or Common Interest Communities) are governed by the Colorado Common Interest Ownership Act (?CCIOA?).
Breach of contract - if you and the HOA have signed a mutually binding contract, such as CC&Rs (covenants, conditions, and restrictions), and the HOA violates it, you may need to hire a lawyer to sue for damages or force them to comply with the contract.
The nine policies required under CCIOA are on the following topics: Collections. Conflicts of Interest. Conduct of Meetings. Enforcement of Covenants and Rules. Records Inspection and Copying. Investment of Reserves. Adoption of Policies. Disputes between the Association and Unit Owners.
This law, effective August 10, 2022, prohibits HOAs in Colorado from seeking foreclosure against homeowners based solely on fines for violating community rules.