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Title 7 – Corporations and Associations Article 126 – Members and Memberships Termination, expulsion, or suspension 7-126-302. Termination, expulsion, or suspension (1) Unless otherwise provided by the bylaws, no member of a nonprofit corporation may be expelled or suspended, and no membership or memberships in such nonprofit corporation may be terminated or suspended except pursuant […]
Title 7 – Corporations and Associations Article 126 – Members and Memberships Purchase of memberships Unless otherwise provided by the bylaws, a nonprofit corporation shall not purchase the membership of a member who resigns or whose membership is terminated. If so authorized, a nonprofit corporation may purchase the membership of a member who resigns or […]
Title 7 – Corporations and Associations Article 126 – Members and Memberships Residential membership – return of consideration – cessation of periodic payments – time limits – effective date (1) Notwithstanding any provision of the articles of incorporation or bylaws to the contrary: (a) (I) A residential nonprofit corporation shall refund the entrance fee of […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Termination of contracts and leases of declarant 38-33.3-305. Termination of contracts and leases of declarant (1) The following contracts and leases, if entered into before the executive board elected by the unit owners pursuant to section 38-33.3-303 (7) takes […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Bylaws 38-33.3-306. Bylaws (1) In addition to complying with applicable sections, if any, of the “Colorado Business Corporation Act”, articles 101 to 117 of title 7, C.R.S., or the “Colorado Revised Nonprofit Corporation Act”, articles 121 to 137 of […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Upkeep of the common interest community 38-33.3-307. Upkeep of the common interest community (1) Except to the extent provided by the declaration, subsection (2) of this section, or section 38-33.3-313 (9), the association is responsible for maintenance, repair, and […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Meetings 38-33.3-308. Meetings (1) Meetings of the unit owners, as the members of the association, shall be held at least once each year. Special meetings of the unit owners may be called by the president, by a majority of […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Quorums 38-33.3-309. Quorums (1) Unless the bylaws provide otherwise, a quorum is deemed present throughout any meeting of the association if persons entitled to cast twenty percent, or, in the case of an association with over one thousand unit […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Executive board – conflicts of interest – definitions (1) Section 7-128-501, C.R.S., shall apply to members of the executive board; except that, as used in that section: (a) “Corporation” or “nonprofit corporation” means the association. (b) “Director” means a […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Tort and contract liability 38-33.3-311. Tort and contract liability (1) Neither the association nor any unit owner except the declarant is liable for any cause of action based upon that declarant’s acts or omissions in connection with any part […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Conveyance or encumbrance of common elements 38-33.3-312. 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 […]
Title 38 – Property – Real and Personal Article 33.3 – Colorado Common Interest Ownership Act Insurance 38-33.3-313. Insurance (1) Commencing not later than the time of the first conveyance of a unit to a person other than a declarant, the association shall maintain, to the extent reasonably available: (a) Property insurance on the common […]