Bill would increase disclosures by Colorado homeowners associations
Colorado law doesn't specify what records a homeowners association must maintain and make available, and associations can deny requests they think lack a "proper purpose."
A bill sponsored by Rep. Angela Williams, D-Denver, and backed by an industry group, seeks to lay out clearer disclosure rules. It also would eliminate the "proper purpose" clause that leaves frustrated homeowners facing expensive legal actions to force disclosure.
"We spell out what associations need to retain and for how long, and what they will need to release," Williams said.
House Bill 1237 passed through the House Local Government Committee on a nine-to-zero vote and Williams said she didn't expect opposition.
Records and transparency issues accounted for about 17 percent of complaints coming into the state's newly formed HOA Information Office and Resource Center last year. A lack of transparency makes it harder for homeowners to know whether associations are doing their jobs.
While I'm trying to decide if this is altruistic, or opportunistic, stuck homeowners are flocking to Adzookie's website in order to enter a contest where 10 people will exchange their monthly mortgage payment for their standing in the neighborhood.
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