Thursday March 26, 2026
What is CCIOA?
The Colorado Common Interest Ownership Act (CCIOA) is Colorado’s main law for condos, townhomes, and many planned communities. It sets baseline rules for how associations operate, what owners can expect, and how boards handle budgets, records, enforcement, and collections.When CCIOA applies
CCIOA generally applies to common interest communities created on or after July 1, 1992. Certain small or limited-expense communities are subject only to parts of CCIOA, unless their declaration opts into the full Act.For older communities, certain sections still apply based on the community’s creation date and later “trigger” dates, including many governance, records, budgeting, and collections rules. If your community is older, it is still important to confirm which CCIOA sections apply before relying on older document language.
Board duties and protections
C.R.S. § 38-33.3-303(2) sets the duty standard for board members and also limits personal liability in many cases.If the board is still appointed by the developer, board members must use “the care required of fiduciaries” for owners. If the board is owner-elected, CCIOA generally protects volunteer leaders from liability unless the conduct is willful and wanton.
Board authority and guardrails
C.R.S. § 38-33.3-303 says the executive board can generally act on behalf of the association, but there are clear limits. For example, the board generally cannot amend the declaration, terminate the community, or elect board members on its own (except to fill vacancies for the unexpired portion of a term).Annual disclosures to owners
C.R.S. § 38-33.3-209.4 requires associations to make an annual disclosure available to owners. This typically includes items like the current budget, current assessments, prior-year financial statements and reserve amounts, and the results of the most recent audit or review (if available).Budgets and the owner veto
C.R.S. § 38-33.3-303(4)(a) says the board must send owners a budget summary within 90 days after adopting the proposed budget. It also must schedule a meeting to review the budget within a reasonable time after the summary is delivered (or as allowed in the bylaws). Unless the declaration requires owner approval, the budget is generally “deemed approved” unless a majority of all owners (or any larger percentage your declaration specifies) veto it at that noticed meeting. If owners veto, the last non-vetoed budget generally continues until one passes.Financial audits
C.R.S. § 38-33.3-303(4)(b) sets a clear framework for audits and reviews when owners ask for them. An audit is required only if the association has at least $250,000 in annual revenues or expenditures and owners of at least one-third of units request it. Copies must be available to owners within 30 days after completion.Required policies
C.R.S. § 38-33.3-209.5(1)(b) requires associations to adopt written “responsible governance” policies. These include policies for collections, conflicts of interest, meeting conduct, enforcement and fines (with due process), records inspection, investing reserve funds, policy adoption, dispute handling, and reserve studies (including whether one exists and whether there’s a funding plan).Fines and cure periods
C.R.S. § 38-33.3-209.5(1.7) sets basic due process for fines. For most violations, the association must send notice by certified mail with return receipt requested and give 30 days to cure before fining. The association may fine only after it conducts an inspection and determines the violation wasn’t cured.Total fines for that violation generally cannot exceed $500 for violations that are not public health/safety threats. For issues that threaten public health or safety, the cure window is generally shorter (72 hours).
Collections
C.R.S. § 38-33.3-209.5(5) requires a written collections policy before an association can send accounts to collections or take legal action to collect unpaid assessments. An 18-month payment plan offer is required under C.R.S. § 38-33.3-209.5(7) before starting a foreclosure case, with minimum monthly payments (generally at least $25).CCIOA requires specific notice steps and a recorded board vote before referring a delinquency to an attorney or collection agency. A property management company can’t make that referral without that vote.
Liens
CCIOA allows associations to foreclose assessment liens, but it sets hard limits under C.R.S. § 38-33.3-316(10.5)–(11). The lien generally can be foreclosed only if the balance secured by the lien equals or exceeds six months of common expense assessments (based on the association’s periodic budget), and only after the board authorizes the action by a recorded vote. C.R.S. § 38-33.3-209.5(8)(c) prohibits foreclosure when the lien is only fines (and related items).Records owners can inspect
C.R.S. § 38-33.3-317 requires associations to keep specific records and make many of them available to owners. This includes governance documents, policies, contracts (current and recent), the most recent reserve study (if any), certain architectural decision records, and more. Associations can require a written request at least 10 days before inspection and can charge reasonable copy/production costs.Penalties for ignoring records requests
If the association does not allow inspection or copying within 30 calendar days after receiving a certified mail request with return receipt requested, the association can be liable for penalties of $50 per day starting on the 11th business day, up to $500, or the owner’s actual damages, whichever is greater, under C.R.S. § 38-33.3-317(4.5).Elections
C.R.S. § 38-33.3-310(1)(b)(I) requires secret ballots for contested board positions (with limited exceptions). It also sets a practical standard for counting ballots: a neutral third party or a committee of volunteer owners can count, but those volunteers cannot be board members, and in a contested board election they cannot be candidates. Results must be reported without identifying how specific owners voted.Developer turnover and transition
C.R.S. § 38-33.3-303(5)–(9) sets a structured transition away from developer control. Once owners elect a majority of the board (other than the developer), the developer must deliver association property and key records within 60 days, including governing documents and operational materials.CCIOA also sets minimum thresholds for when owners must begin electing board members during the development and when full owner control must occur.
About FirstService Residential
FirstService Residential supports Colorado communities with local expertise backed by national resources. Our teams help boards stay organized with governance support, recordkeeping systems, financial management, vendor coordination, resident communication, and 24/7 customer care.We help boards apply consistent processes that align with their governing documents and Colorado law, so board members can stay focused on long-term community goals instead of day-to-day administration.
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This information is provided for general informational purposes only and is not intended to constitute, and should not be relied upon as, legal, regulatory, financial, or operational advice, or as a representation or guarantee of any specific services, capabilities, or outcomes. Property management needs, regulatory requirements, market conditions, and available services vary by jurisdiction, property type, and community. FirstService Residential provides services through locally based affiliates and associates, and services and results may vary by community, region, contractual terms, and applicable law.