This morning, the Colorado House of Representatives on a 63 to 0 vote passed House Bill 12-1237 (“HB 1237”) on 3rd reading. The bill will now be sent to the Senate for consideration. HB 1237 addresses the retention and production of HOA records.
The bill is intended to clarify: (1) what exactly are records of the association; (2) what records must be retained by associations: (3) what records must be produced to owners upon request; and (4) what records are exempted from production. In addition to these clarifying provisions, HB 1237 disposes of the requirement that owners provide a “proper purpose” prior to being permitted to inspect and obtain copies of records.
We will provide you with important updates on HB 1237 as it proceeds through the Senate.