Chapter 12 - § 12.5 • BYLAWS
| Jurisdiction | Colorado |
The COA sets forth the required contents of the bylaws. However, the requirements do not apply to commercial, industrial, or any other condominiums not used for residential use,142 condominiums of10 units or fewer, or to condominiums established by a declaration recorded prior to January 1, 1976.143 For all others, the bylaws must "contain or provide for" at least the following:
• A board of managers;144
• Authorization to hire a professional manager;145
• Procedures for unit owner meetings;146
• The election of officers;147
• Authorization for the board to designate and remove personnel for operation, maintenance, repair, and replacement of the common elements;148
• A statement of the right of the unit owners and their mortgagees to inspect the records of board receipts and expenditures and of each unit owner's right to a statement of his or her account;149
• A statement as to whether the association is an unincorporated association or a corporation, whether an ordinary business corporation or not for profit;150
• The method of adopting and amending administrative rules and regulations that govern the operation and use of the common elements;151 and
•The percentage of votes required to modify or amend the bylaws.152
Unless set forth in the declaration,153 the bylaws also must "contain or provide for" the following:
• A statement concerning maintenance, repair, replacement, and improvement of the general and limited common elements, including how it will be paid for and whether it requires prior approval of the association when it would involve a large expense or exceed a certain amount;154
• Budget preparation and the method of assessing and collecting common expenses;155
• A list of the services provided by the association that are paid for out of the regular assessment;156
• A statement that "clearly and separately" indicates what assessments, debts, or other obligations are assumed by the unit owner on his or her condominium unit;157
• A statement about whether additional liens — other than mechanics' liens, assessment liens, or tax liens — may be obtained against the general or limited common elements then existing in which the unit owner has a percentage ownership;158
• A statement of any restrictions on and requirements about the use and maintenance of units and the use of the general and limited common elements that are designed to prevent unreasonable interference with the use of their units and the common elements by the unit owners;159
• A statement of any restrictions on and requirements concerning the sale or lease of a unit, including rights of first refusal on sale and any other restraints on free alienability of a unit;160
• A list of all major recreational facilities and to whom they are available that indicates whether there are any fees or charges in addition to the regular assessment;161 and
• A statement about the effect of additions to the common elements.162
The COA provides that, unless exempted, the administration and operation of multi-unit condominiums is to be governed by the declaration;163 however, any declaration recorded on or after January 1, 1976, may not conflict with the provisions of the statute on bylaws or with bylaws made in accordance with the statute.164 The seller must provide every initial bona fide purchaser of a residential condominium unit with a copy of the bylaws and any amendments to them at or before execution of a contract for sale, or otherwise, before closing. The copy provided to purchasers must be "clearly legible."165
Generally, condominium associations may exercise their powers only within constraints of their declaration and bylaws.166 Even though there may have been a...
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