Colorado Legislative Council Staff

NO FISCAL IMPACT


Drafting Number:

Prime Sponsor(s):

LLS 99-0855

Sen. Lamborn

Date:

Bill Status:

Fiscal Analyst:

April 6, 1999

Senate SVMA

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.



Departments Contacted

 

            Judicial           Local Government