Colorado Legislative Council Staff
NO FISCAL IMPACT
April 6, 1999
Steve Tammeus (866-2756)
TITLE: CONCERNING THE AMENDMENT OF THE DECLARATIONS OF A COMMON INTEREST COMMUNITY BY PETITION TO THE DISTRICT COURT.
Summary of Legislation
This bill revises certain provisions of the Colorado Common Interest Ownership Act to allow the executive board of a common interest community, under certain conditions, to petition the district court for an order to amend the community's declaration. The bill specifies the content of the petition, the process for notifying the unit owners, and the content of the notice.
The district court hearing is to be between 45 and 60 days from when the petition is filed. If the petition is granted, the bill requires the court to enter an order approving the amendment and requiring the executive board to record the amendment in each county in which the community is located. The recorded amendment is to have the same legal effect as if adopted pursuant to the requirements of the community's declaration. The bill will become effective upon signature of the Governor.
This bill will not affect state or local government revenue or expenditures. Therefore, it is assessed as having no fiscal impact.
Judicial Local Government