BY REPRESENTATIVE Kaufman;
also SENATORS Matsunaka and Wattenberg.
CONCERNING THE "COLORADO COMMON INTEREST OWNERSHIP
ACT", AND, IN CONNECTION THEREWITH, ALLOWING VARIATION BY
AGREEMENT FROM CERTAIN PROVISIONS OF THE ACT, EXPANDING THE EXEMPTION
FROM THE ACT FOR NEW SMALL COOPERATIVES AND SMALL AND LIMITED
EXPENSE PLANNED COMMUNITIES, REQUIRING ADDITIONAL NOTICE OF MEETINGS
OF A UNIT OWNERS' ASSOCIATION, AND REQUIRING NOTICE OF MEETINGS
OF A UNIT OWNERS' ASSOCIATION'S EXECUTIVE BOARD OR COMMITTEE THEREOF.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 3833.3103
(20), Colorado Revised Statutes, is amended to read:
3833.3103. Definitions. As
used in the declaration and bylaws of an association, unless specifically
provided otherwise or unless the context otherwise requires, and
in this article:
(20) "Master association" means
an organization described in section
3833.3220, whether or not it is also an association
described in section 3833.3301
THAT IS AUTHORIZED TO EXERCISE SOME OR ALL OF THE POWERS OF ONE
OR MORE ASSOCIATIONS ON BEHALF OF ONE OR MORE COMMON INTEREST
COMMUNITIES OR FOR THE BENEFIT OF THE UNIT OWNERS OF ONE OR MORE
COMMON INTEREST COMMUNITIES.
SECTION 2. 3833.3116,
Colorado Revised Statutes, is amended to read:
3833.3116. Exception for
new small cooperatives and small and limited expense planned communities.
(1) If a cooperative created in this state on or after
July 1, 1992, BUT PRIOR TO JULY 1, 1998, contains only units restricted
to nonresidential use, or contains no more than ten units and
is not subject to any development rights, it is subject only to
sections 3833.3105, 3833.3106, and 3833.3107,
unless the declaration provides that this entire article is applicable.
If a planned community created in this state on or after July
1, 1992, BUT PRIOR TO JULY 1, 1998, contains no more than ten
units and is not subject to any development rights or if a planned
community provides, in its declaration, that the annual average
common expense liability of each unit restricted to residential
purposes, exclusive of optional user fees and any insurance premiums
paid by the association, may not exceed three hundred dollars,
it is subject only to sections 3833.3105, 3833.3106,
and 3833.3107, unless the declaration provides that
this entire article is applicable.
(2) IF A COOPERATIVE OR PLANNED COMMUNITY
CREATED IN THIS STATE ON OR AFTER JULY 1, 1998, CONTAINS ONLY
UNITS RESTRICTED TO NONRESIDENTIAL USE, OR CONTAINS NO MORE THAN
TWENTY UNITS AND IS NOT SUBJECT TO ANY DEVELOPMENT RIGHTS, IT
IS SUBJECT ONLY TO SECTIONS 3833.3105, 3833.3106,
AND 3833.3107, UNLESS THE DECLARATION PROVIDES THAT
THIS ENTIRE ARTICLE IS APPLICABLE. IF A PLANNED COMMUNITY CREATED
IN THIS STATE AFTER JULY 1, 1998, PROVIDES, IN ITS DECLARATION,
THAT THE ANNUAL AVERAGE COMMON EXPENSE LIABILITY OF EACH UNIT
RESTRICTED TO RESIDENTIAL PURPOSES, EXCLUSIVE OF OPTIONAL USER
FEES AND ANY INSURANCE PREMIUMS PAID BY THE ASSOCIATION, MAY NOT
EXCEED FOUR HUNDRED DOLLARS, AS ADJUSTED PURSUANT TO SUBSECTION
(3) OF THIS SECTION, IT IS SUBJECT ONLY TO SECTIONS 3833.3105,
3833.3106, AND 3833.3107, UNLESS THE DECLARATION
PROVIDES THAT THIS ENTIRE ARTICLE IS APPLICABLE.
(3) THE FOURHUNDREDDOLLAR
LIMITATION SET FORTH IN SUBSECTION (2) OF THIS SECTION SHALL BE
INCREASED ANNUALLY ON JULY 1, 1999, AND ON JULY 1 OF EACH SUCCEEDING
YEAR IN ACCORDANCE WITH ANY INCREASE IN THE UNITED STATES DEPARTMENT
OF LABOR BUREAU OF LABOR STATISTICS FINAL CONSUMER PRICE INDEX
FOR THE DENVERBOULDER CONSOLIDATED METROPOLITAN STATISTICAL
AREA FOR THE PRECEDING CALENDAR YEAR. THE LIMITATION SHALL NOT
BE INCREASED IF THE FINAL CONSUMER PRICE INDEX FOR THE PRECEDING
CALENDAR YEAR DID NOT INCREASE AND SHALL NOT BE DECREASED IF THE
FINAL CONSUMER PRICE INDEX FOR THE PRECEDING CALENDAR YEAR DECREASED.
SECTION 3. Part
1 of article 33.3 of title 38, Colorado Revised Statutes, is amended
BY THE ADDITION OF A NEW SECTION to read:
3833.3120.5 Extension of
declaration term. (1) IF A
COMMON INTEREST COMMUNITY HAS A DECLARATION IN EFFECT WITH A LIMITED
TERM OF YEARS THAT WAS RECORDED PRIOR TO JULY 1, 1992, AND IF,
BEFORE THE TERM OF THE DECLARATION EXPIRES, THE UNIT OWNERS IN
THE COMMON INTEREST COMMUNITY HAVE NOT AMENDED THE DECLARATION
PURSUANT TO SECTION 3833.3120 AND IN ACCORDANCE WITH
ANY CONDITIONS OR FIXED LIMITATIONS DESCRIBED IN THE DECLARATION,
THE DECLARATION MAY BE EXTENDED AS PROVIDED IN THIS SECTION.
(2) THE TERM OF THE DECLARATION MAY BE
EXTENDED:
(a) IF THE EXECUTIVE BOARD ADOPTS A RESOLUTION
RECOMMENDING THAT THE DECLARATION BE EXTENDED FOR A SPECIFIC TERM
NOT TO EXCEED TWENTY YEARS AND DIRECTS THAT THE QUESTION OF EXTENDING
THE TERM OF THE DECLARATION BE SUBMITTED TO THE UNIT OWNERS, AS
MEMBERS OF THE ASSOCIATION; AND
(b) IF AN EXTENSION OF THE TERM OF THE
DECLARATION IS APPROVED BY VOTE OR AGREEMENT OF UNIT OWNERS OF
UNITS TO WHICH AT LEAST SIXTYSEVEN PERCENT OF THE VOTES
IN THE ASSOCIATION ARE ALLOCATED OR ANY LARGER PERCENTAGE THE
DECLARATION SPECIFIES.
(3) EXCEPT FOR THE EXTENSION OF THE TERM
OF A DECLARATION AS AUTHORIZED BY THIS SECTION, NO OTHER PROVISION
OF A DECLARATION MAY BE AMENDED PURSUANT TO THE PROVISIONS OF
THIS SECTION.
(4) FOR ANY MEETING OF UNIT OWNERS AT WHICH A VOTE IS TO BE TAKEN ON A PROPOSED EXTENSION OF THE TERM OF A DECLARATION AS PROVIDED IN THIS SECTION, THE SECRETARY OR OTHER OFFICER SPECIFIED IN THE BYLAWS SHALL PROVIDE WRITTEN NOTICE TO EACH UNIT OWNER ENTITLED TO VOTE AT THE MEETING STATING THAT THE PURPOSE, OR ONE OF THE PURPOSES, OF THE MEETING IS TO CONSIDER EXTENDING THE TERM OF THE DECLARATION. THE NOTICE SHALL BE GIVEN IN THE TIME AND MANNER SPECIFIED IN SECTION 3833.3308 OR IN THE ARTICLES OF INCORPORATION, DECLARATION, BYLAWS, OR OTHER GOVERNING DOCUMENTS OF THE ASSOCIATION.
(5) THE EXTENSION OF THE DECLARATION,
IF APPROVED, SHALL BE INCLUDED IN AN AMENDMENT TO THE DECLARATION
AND SHALL BE EXECUTED, ACKNOWLEDGED, AND RECORDED BY THE ASSOCIATION
IN THE RECORDS OF THE CLERK AND RECORDER OF EACH COUNTY IN WHICH
ANY PORTION OF THE COMMON INTEREST COMMUNITY IS LOCATED. THE
AMENDMENT SHALL INCLUDE:
(a) A STATEMENT OF THE NAME OF THE COMMON
INTEREST COMMUNITY AND THE ASSOCIATION;
(b) A STATEMENT THAT THE ASSOCIATION HAS
ELECTED TO EXTEND THE TERM OF THE DECLARATION PURSUANT TO THIS
SECTION AND THE TERM OF THE APPROVED EXTENSION;
(c) A STATEMENT THAT INDICATES THAT THE
EXECUTIVE BOARD HAS ADOPTED A RESOLUTION RECOMMENDING THAT THE
DECLARATION BE EXTENDED FOR A SPECIFIC TERM NOT TO EXCEED TWENTY
YEARS, THAT SETS FORTH THE DATE OF THE MEETING AT WHICH THE UNIT
OWNERS ELECTED TO EXTEND THE TERM OF THE DECLARATION, AND THAT
DECLARES THAT THE EXTENSION WAS AUTHORIZED BY A VOTE OR AGREEMENT
OF UNIT OWNERS OF UNITS TO WHICH AT LEAST SIXTYSEVEN PERCENT
OF THE VOTES IN THE ASSOCIATION ARE ALLOCATED OR ANY LARGER PERCENTAGE
THE DECLARATION SPECIFIES;
(d) A STATEMENT OF THE NAMES AND RESPECTIVE
ADDRESSES OF THE OFFICERS AND EXECUTIVE BOARD MEMBERS OF THE ASSOCIATION.
(6) UPON THE RECORDING OF THE AMENDMENT
REQUIRED BY SUBSECTION (5) OF THIS SECTION, AND SUBJECT TO THE
PROVISIONS OF THIS SECTION, A COMMON INTEREST COMMUNITY IS SUBJECT
TO ALL PROVISIONS OF THE DECLARATION, AS AMENDED.
SECTION 4. 3833.3205
(1) (h), Colorado Revised Statutes, is amended, and the said 3833.3205
is further amended BY THE ADDITION OF THE FOLLOWING NEW SUBSECTIONS,
to read:
3833.3205. Contents of
declaration. (1) (h) A
description of any development rights and other special declarant
rights reserved by the declarant, together with a legally
sufficient description of
SUFFICIENT TO IDENTIFY the real estate to which each of those
rights applies and the time limit within which each of those rights
must be exercised;
(4) A DECLARANT MAY AMEND THE DECLARATION,
A PLAT, OR A MAP TO CORRECT CLERICAL, TYPOGRAPHICAL, OR TECHNICAL
ERRORS.
(5) A DECLARANT MAY AMEND THE DECLARATION
TO COMPLY WITH THE REQUIREMENTS, STANDARDS, OR GUIDELINES OF RECOGNIZED
SECONDARY MORTGAGE MARKETS, THE DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT, THE FEDERAL HOUSING ADMINISTRATION, THE VETERANS
ADMINISTRATION, THE FEDERAL HOME LOAN MORTGAGE CORPORATION, THE
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION, OR THE FEDERAL NATIONAL
MORTGAGE ASSOCIATION.
SECTION 5. 3833.3207
(4) (a) (III), (4) (a) (IV), and (4) (d),
Colorado Revised Statutes, are amended to read:
3833.3207. Allocation of
allocated interests. (4) (a) The
declaration may provide:
(III) For class voting on specified issues
affecting the class, INCLUDING THE ELECTION OF THE EXECUTIVE BOARD
if necessary to protect valid interests
of the class; and
(IV) For large
planned communities created after July 1, 1994,
For assessments including, but not limited to, assessments on
retail sales and services not to exceed six percent of the amount
charged for the retail sale or service, and real estate transfers
not to exceed three percent of the real estate sales price or
its equivalent.
(d) Large
planned Communities specifying
WITH classes for voting SPECIFIED in the declaration as allowed
pursuant to subparagraph (III) of paragraph (a) of this subsection
(4) may designate classes of members on a reasonable basis which
do not allow the declarant to control the association beyond the
period provided for in section 3833.3303 or
to control the association to an extent greater than allowed
for planned communities other than
large planned communities, including,
without limitation, residence owners, commercial space owners,
and owners of lodging space and to elect members to the association
executive board from such classes.
SECTION 6. 3833.3209
(1), the introductory portion to 3833.3209 (2), and
3833.3209 (6) and (7), Colorado Revised Statutes,
are amended to read:
3833.3209. Plats and maps.
(1) Plats and maps are
A PLAT OR MAP IS a part of the declaration and are
IS required for all common interest communities except cooperatives.
Separate
A plats and maps are
PLAT OR MAP IS not required by this article if all the information
required by this section is contained in either
a plat or a map THE DECLARATION.
Each plat and
OR map must be clear and legible. and
EACH MAP MUST contain a certification that the plat
or map contains all the information
required by this section.
(2) In addition to meeting the requirements
of a land survey plat as set forth in section 3851106,
each plat
MAP must show:
(6) Upon exercising any development right,
the declarant shall record either
new plats and maps AN AMENDMENT TO
THE DECLARATION with respect to that real estate reflecting change
as a result of such exercise necessary to conform to the requirements
of subsections (1), (2), and (4) of this section or new certifications
of plats and
maps previously recorded if those plats
and maps otherwise conform to the
requirements of subsections (1), (2), and (4) of this section.
(7) Any certification of a plat
or map required by this article must
be made by a registered land surveyor.
SECTION 7. 3833.3210
(2), Colorado Revised Statutes, is amended to read:
3833.3210. Exercise of
development rights. (2) ADDITIONAL
development rights NOT PREVIOUSLY RESERVED may be reserved within
any real estate added to the common interest community if the
amendment adding that real estate includes all matters required
by section 3833.3205 or 3833.3206, as
the case may be, and, in a condominium or planned community, the
plats and maps include all matters required by section 3833.3209.
This provision does not extend the time limit on the exercise
of development rights imposed by the declaration pursuant to section
3833.3205 (1) (h).
SECTION 8. 3833.3213
(1), Colorado Revised Statutes, is amended to read:
3833.3213. Subdivision
of units. (1) If the declaration
expressly so permits, a unit may be subdivided into two or more
units. Subject to the provisions of the declaration and other
provisions of law, and pursuant to the procedures described in
THIS section, 3833.3217,
a unit owner may apply to the association to subdivide a unit.
SECTION 9. 3833.3215,
Colorado Revised Statutes, is amended to read:
3833.3215. Use for sales
purposes. A declarant may maintain
sales offices, management offices, and models in the common interest
community only if the declaration so provides. and
specifies the rights of a declarant with regard to the number,
size, location, and relocation thereof.
EXCEPT AS PROVIDED IN A DECLARATION, any real estate IN A COMMON
INTEREST COMMUNITY used as a sales office, management office,
or model and not designated a unit by the declaration is a common
element. If a declarant ceases to be a unit owner, such declarant
ceases to have any rights with regard to any real estate used
as a sales office, management office, or model, unless it is removed
promptly from the common interest community in accordance with
a right to remove reserved in the declaration. Subject to any
limitations in the declaration, a declarant may maintain signs
on the common elements advertising the common interest community.
This section is subject to the provisions of other state laws
and to local ordinances.
SECTION 10. 3833.3217
(1) and (4), Colorado Revised Statutes, are amended, and the said
3833.3217 is further amended BY THE ADDITION OF A
NEW SUBSECTION, to read:
3833.3217. Amendment of
declaration. (1) Except in
cases of amendments that may be executed by a declarant under
section 3833205 (4) and (5), 3833.3208
(3), 3833.3209 (6), 3833.3210, or 3833.3222,
or by the association under section 3833.3107, 3833.3206
(4), 3833.3208 (2), 3833.3212, 3833.3213,
or 3833.3218 (11) and (12) and except as limited by
subsection (4) of this section, the declaration, including the
plats and maps, may be amended only by vote or agreement of unit
owners of units to which at least
sixtyseven MORE THAN FIFTY
percent of the votes in the association are allocated or any larger
percentage the declaration specifies. The declaration may specify
a smaller percentage only if all of the units are restricted exclusively
to nonresidential use.
(4) Except to the extent expressly permitted
or required by other provisions of this article, no amendment
may create or increase special declarant rights, increase the
number of units, or change the boundaries of any unit or the allocated
interests of a unit or the uses to
which any unit is restricted, in
the absence of unanimous consent of
the unit owners A VOTE OR AGREEMENT
OF UNIT OWNERS OF UNITS TO WHICH AT LEAST SIXTYSEVEN PERCENT
OF THE VOTES IN THE ASSOCIATION, INCLUDING SIXTYSEVEN PERCENT
OF THE VOTES ALLOCATED TO UNITS NOT OWNED BY A DECLARANT, ARE
ALLOCATED OR ANY LARGER PERCENTAGE THE DECLARATION SPECIFIES.
THE DECLARATION MAY SPECIFY A SMALLER PERCENTAGE ONLY IF ALL
OF THE UNITS ARE RESTRICTED EXCLUSIVELY TO NONRESIDENTIAL USE.
(4.5) EXCEPT TO THE EXTENT EXPRESSLY PERMITTED
OR REQUIRED BY OTHER PROVISIONS OF THIS ARTICLE, NO AMENDMENT
MAY CHANGE THE USES TO WHICH ANY UNIT IS RESTRICTED IN THE ABSENCE
OF A VOTE OR AGREEMENT OF UNIT OWNERS OF UNITS TO WHICH AT LEAST
SIXTYSEVEN PERCENT OF THE VOTES IN THE ASSOCIATION ARE ALLOCATED
OR ANY LARGER PERCENTAGE THE DECLARATION SPECIFIES. THE DECLARATION
MAY SPECIFY A SMALLER PERCENTAGE ONLY IF ALL OF THE UNITS ARE
RESTRICTED EXCLUSIVELY TO NONRESIDENTIAL USE.
SECTION 11. 3833.3220
(1), Colorado Revised Statutes, is amended to read:
3833.3220. Master associations.
(1) If the declaration provides that any of the powers
of a unit owners' association described in section 3833.3302
are to be exercised by or may be delegated to a profit
or nonprofit corporation that exercises those or other powers
on behalf of one or more common interest communities or for the
benefit of the unit owners of one or more common interest communities,
MASTER ASSOCIATION, all provisions of this article applicable
to unit owners' associations apply to any such corporation
MASTER ASSOCIATION except as modified by this section.
SECTION 12. 3833.3222,
Colorado Revised Statutes, is amended to read:
3833.3222. Addition of
unspecified real estate. In
a common interest community, if the right is originally reserved
in the declaration, the declarant, in addition to any other development
right, may amend the declaration at any time during as many years
as are specified in the declaration to add additional real estate
to the common interest community without describing the location
of that real estate in the original declaration; but the area
of real estate added to the common interest community pursuant
to this section may not exceed ten percent of the total area of
real estate described in section 3833.3205
(1) (c), 3833.3205 (1)
(c) AND (1) (h), and the declarant may not in any event increase
the number of units in the common interest community beyond the
number stated in the original declaration pursuant to section
3833.3205 (1) (d), EXCEPT AS PROVIDED IN SECTION 3833.3217
(4).
SECTION 13. 3833.3301,
Colorado Revised Statutes, is amended to read:
3833.3301. Organization
of unit owners' association. A
unit owners' association shall be organized no later than the
date the first unit in the common interest community is conveyed
to a purchaser. The membership of the association at all times
shall consist exclusively of all unit owners or, following termination
of the common interest community, of all former unit owners entitled
to distributions of proceeds under section 3833.3218,
or their heirs, personal representatives, successors, or assigns.
The association shall be organized as a nonprofit, notforprofit,
or forprofit corporation OR AS A LIMITED LIABILITY COMPANY
in accordance with the laws of the state of Colorado; except that
the failure of the association to incorporate OR ORGANIZE AS A
LIMITED LIABILITY COMPANY will not adversely affect either the
existence of the common interest community for purposes of this
article or the rights of persons acting in reliance upon such
existence, other than as specifically provided in section 3833.3316.
SECTION 14. 3833.3307
(2), Colorado Revised Statutes, is amended to read:
3833.3307. Upkeep of the
common interest community. (2) In
addition to the liability that a declarant as a unit owner has
under this article, the declarant alone is liable for all expenses
in connection with real estate WITHIN THE COMMON INTEREST COMMUNITY
subject to development rights. No other unit owner and no other
portion of the common interest community is subject to a claim
for payment of those expenses. Unless the declaration provides
otherwise, any income or proceeds from real estate subject to
development rights inures to the declarant. If the declarant
fails to pay all expenses in connection with real estate within
the common interest community subject to development rights, the
association may pay such expenses, and such expenses shall be
assessed as a common expense against the real estate subject to
development rights, and the association may enforce the assessment
pursuant to section 3833.3316 by treating such real
estate as if it were a unit. If the association acquires title
to the real estate subject to the development rights through foreclosure
or otherwise, the development rights shall not be extinguished
thereby, and, thereafter, the association may succeed to any special
declarant rights specified in a written instrument prepared, executed,
and recorded by the association in accordance with the requirements
of section 3833.3304 (3).
SECTION 15. 3833.3308
(2), Colorado Revised Statutes, is amended to read:
3833.3308. Meetings.
(2) All regular and special meetings of the association's
executive board, or any committee thereof, shall be open to attendance
by all members of the association or their representatives. AGENDAS
FOR MEETINGS OF THE EXECUTIVE BOARD SHALL BE MADE REASONABLY AVAILABLE
FOR EXAMINATION BY ALL MEMBERS OF THE ASSOCIATION OR THEIR REPRESENTATIVES.
SECTION 16. 3833.3309
(2), Colorado Revised Statutes, is amended to read:
3833.3309. Quorums.
(2) Unless the bylaws specify a larger percentage,
a quorum is deemed present throughout any meeting of the executive
board if persons entitled to cast fifty percent of the votes on
that board are present at the beginning of the meeting OR GRANT
THEIR PROXY, AS PROVIDED IN SECTION 7128205 (4), C.R.S.
SECTION 17. 3833.3312
(1), (2), and (3), Colorado Revised Statutes, are amended to read:
3833.3312. Conveyance or
encumbrance of common elements. (1) In
a condominium or planned community, portions of the common elements
may be conveyed or subjected to a security interest by the association
if persons entitled to cast at least eighty
percent, or, in the case of an association with over one thousand
unit owners, sixtyseven percent
of the votes in the association, including eighty
SIXTYSEVEN percent of the votes allocated to units not owned
by a declarant, or any larger percentage the declaration specifies,
agree to that action; except that all owners of units to which
any limited common element is allocated must agree in order to
convey that limited common element or subject it to a security
interest. The declaration may specify a smaller percentage only
if all of the units are restricted exclusively to nonresidential
uses. Proceeds of the sale are an asset of the association.
(2) Part of a cooperative may be conveyed
and all or part of a cooperative may be subjected to a security
interest by the association if persons entitled to cast at least
eighty
SIXTYSEVEN percent of the votes in the association, including
eighty
SIXTYSEVEN percent of the votes allocated to units not owned
by a declarant, or any larger percentage the declaration specifies,
agree to that action; except that, if fewer than all of the units
or limited common elements are to be conveyed or subjected to
a security interest, then all unit owners of those units, or the
units to which those limited common elements are allocated, must
agree in order to convey those units or limited common elements
or subject them to a security interest. The declaration may specify
a smaller percentage only if all of the units are restricted exclusively
to nonresidential uses. Proceeds of the sale are an asset of
the association. Any purported conveyance or other voluntary
transfer of an entire cooperative, unless made in compliance with
section 3833.3218, is void.
(3) An agreement to convey, or subject
to a security interest, common elements in a condominium or planned
community, or, in a cooperative, an agreement to convey, or subject
to a security interest, any part of a cooperative, must be evidenced
by the execution of an agreement, or
ratifications thereof, in the same
manner as a deed, by the requisite
number of unit owners ASSOCIATION.
The agreement must specify a date after which the agreement will
be void unless recorded before that
date APPROVED BY THE REQUISITE PERCENTAGE
OF OWNERS. The agreement and all
ratifications thereof ANY GRANT,
CONVEYANCE, OR DEED EXECUTED BY THE ASSOCIATION must be recorded
in every county in which a portion of the common interest community
is situated and is effective only upon recordation.
SECTION 18. 3833.3313
(9) (a) (III), Colorado Revised Statutes, is amended
to read:
3833.3313. Insurance.
(9) (a) Any portion of the common interest community
for which insurance is required under this section which is damaged
or destroyed must be repaired or replaced promptly by the association
unless:
(III) Eighty
SIXTYSEVEN percent of the unit owners, including every owner
of a unit or assigned limited common element that will not be
rebuilt, vote not to rebuild; or
SECTION 19. 3833.3316
(1), Colorado Revised Statutes, is amended to read:
3833.3316. Lien for assessments.
(1) The association, if such association is incorporated
OR ORGANIZED AS A LIMITED LIABILITY COMPANY, has a statutory lien
on a unit for any assessment levied against that unit or fines
imposed against its unit owner. Unless the declaration otherwise
provides, fees, charges, late charges, attorney fees, fines, and
interest charged pursuant to section 3833.3302 (1)
(j), (1) (k), and (1) (l), section 3833.3313 (6),
and section 3833.3315 (2) are enforceable as assessments
under this article. The amount of the lien shall include all
those items set forth in this section from the time such items
become due. If an assessment is payable in installments, each
installment is a lien from the time it becomes due, including
the due date set by any valid association's acceleration of installment
obligations.
SECTION 20. Effective
date. This act shall take effect July 1, 1998.
SECTION 21. Safety
clause. The general assembly hereby finds, determines, and
declares that this act is necessary for the immediate preservation
of the public peace, health, and safety.
____________________________ ____________________________
Charles E. Berry Tom Norton
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Judith M. Rodrigue Patricia K. Dicks
CHIEF CLERK OF THE HOUSE ASSISTANT SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO