S.B. 95-8 Unclaimed property - remittance of property to the state. Makes the following changes to the "Unclaimed Property Act":
APPROVED by Governor May 16, 1995
EFFECTIVE May 16, 1995
S.B. 95-198 Large planned communities - development - "Colorado Common Interest Ownership Act". Clarifies that a planned community, rather than a parcel of land, is exempt from the provisions of the "Colorado Common Interest Ownership Act" if certain requirements are met. Changes the requirements under which a planned community may be exempt from the provisions of the Act by requiring that the real estate upon which such community is created is approved, rather than zoned, for development of at least 500, rather than 200, residential units. Specifies that the exemption is not available to a planned community that no longer qualifies as a large planned community. Eliminates the requirement that, upon sale, conveyance, or transfer of any portion of the large planned community, such portion remains subject to any recorded declarations made prior to the sale, conveyance, or transfer. Requires that any common interest community that is partially within a large planned community be created pursuant to the provisions of the Act. Specifies that the real estate described in a recorded declaration creating a large planned community remain subject to such declaration. Requires an association of such community to retain in its principal office and make reasonably available to unit owners, unit owners' agents, and prospective unit purchasers a complete legal description of all common elements within the community.
Requires that the recorded declaration of a common interest community within a large planned community contain a description of every common element that the declarant is legally obligated to construct within the community and the approximate date by which the element is to be completed, and the type of any common element that the declarant anticipates may be constructed, maintained, or operated by the association. Requires the declarant to complete each common element within a reasonable time after the date specified in the declaration but exempts the declarant from any obligation concerning any element that is not identified therein. Prohibits an association from assessing members for the construction, maintenance, or operation of any common element that is not contained in the declaration unless approved by vote. Specifies a limit on the amounts of assessments that may be included when allocating interests in such declaration.
Creates a separate provision for declarant control of an association in a large planned community. Specifies when a period of declarant control terminates and the consequences of such termination. Requires the declarant, after an election of a majority of the members of the board by unit owners, to deliver to the association in a large planned community copies of all recorded deeds and all recorded and unrecorded leases evidencing ownership or leasehold rights of the association in all common elements within the community.
APPROVED by Governor April 17, 1995
EFFECTIVE July 1, 1995
H.B. 95-1234 Common interest communities - executive boards - open meetings - notice requirements. Requires that meetings of the executive board of a homeowners' association be open to all members of the association or their representatives. Allows the board to go into executive session only for the purpose of discussing certain matters, including personnel matters, pending litigation, investigations of criminal conduct, and the like. Invalidates any rule adopted during an executive session. Requires that meeting minutes reflect the fact that an executive session was held and the general subject matter discussed.
Clarifies that the existing requirement for 10 to 50 days' advance written notice of an association's annual meeting applies to meetings of "unit owners, as members of the association".
APPROVED by Governor May 25, 1995
EFFECTIVE July 1, 1995
H.B. 95-1325 Dry cleaning and related service establishments - disposition of unclaimed personal property. Makes it clear that garments, clothing, wearing apparel, household goods, or any other items are subject to disposal or sale when left unclaimed with a service establishment or when placed in storage by agreement when left unclaimed and charges are left unpaid. Clarifies that certain services or labor must be performed on an item that is subject to disposal or sale. Requires that notice of the sale include the time and place of sale. Clarifies that no notice is required to dispose of property after 180 days whether or not an address was given to the establishment at the time the property was delivered. Changes the required notice posted in the receiving office of an establishment to indicate that any items not reclaimed within 90 days may be sold and any items not reclaimed within 180 days may be disposed of by the establishment.
APPROVED by Governor April 7, 1995
EFFECTIVE April 7, 1995
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