In his October 13, 2013 column in the Vail Daily News, attorney T.J. Voboril says that if you already know about HB 1276 you are either a diligent homeowners association board member or you have a conscientious homeowners association attorney. We hope it is both! But, in case you aren’t as familiar with HB 1276 and have ignored the other numerous blogs we’ve done on this topic, be more diligent and follow this conscientious attorney’s recommendation!
Get your collection policy updated or adopt one IMMEDIATELY! If you don’t have it in place by January 1, 2014 your attorney won’t be able to do anything on any collection account. We all know that the wheels of an association don’t always move quickly so starting your policy amendment process now, will allow you a mere 63 days to get it in place and a copy to your attorney before January 1, 2014.
Also, I think it is possible that with the high level of awareness of this new law we will see owners asserting claims for board’s failure to have the policy in place in an effort to defend collection activity or even to get board’s to act. Such a claim would likely subject your association to paying the owners’ legal fees, and may even place board members on their own in terms of defense if it is a willful and wanton action to disregard the law and fail to adopt or amend the policy. So, don’t delay get it done NOW. For more information on the process and costs contact us at 303-432-9999.