The HOA information and resource center (center) was created in 2010 to track inquiries and complaints related to unit owners' associations (a/k/a homeowners' associations or HOAs) and report them to the director of the division of real estate (director). The center also serves as a clearinghouse for information concerning the rights and duties of unit owners and associations. The center does not have regulatory or investigative power.
Section 1 of the bill empowers the center to perform certain regulatory and investigative actions, including:
- Reporting suspected violations of the "Colorado Common Interest Ownership Act" (act) and rules promulgated under the act;
- Assisting with resolving disputes by offering to mediate them or referring them to alternate dispute resolution services; and
- If sufficiently petitioned by enough members of an association, appointing an election monitor and conducting the election of the association's directors.
Section 2 of the bill directs the director to calculate the annual fee paid by associations to support the center's operation on a per-unit basis and provides a formula for the director to use to calculate each association's fee.
Section 3 of the bill amends the annual registration provisions by:
- Adding information that a unit owners' association is required to provide along with its annual registration, including the name of the association, contact information for the association, and the number of units in the association;
- Clarifying that if an association fails to register, then its right to pursue legal remedies will be suspended, without prejudice, and its rights will be restored upon validly registering;
- Clarifying the means by which an HOA may prove that it has validly registered;
- Specifying that a registration is not invalid merely because it contains technical or typographical errors; and
- Applying the registration requirements to common interest communities that were established before enactment of the act.