Colorado

Colorado Annual General Meeting Requirements for Condos, Co-Ops, and HOAs

Scheduling your annual meeting of members may be a task that you dread. Choosing a date that fits everyone’s schedule is impossible. However, you need members to attend so that you can conduct association business. There must be a better way to hold homeowners association meetings.

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Population

5,758,736

Housing Units

2,464,164

Owner Occupied

65.20%

Associations

10,300

Simplify Your Board Meetings in Colorado With BuildingBoard

BuildingBoard has developed a better way for members to attend annual meetings and board of directors meetings. Our easy-to-use platform gives your members and directors the ability to attend live meetings and vote electronically from anywhere. They do not need to download software or apps. All they need to do is access an internet browser from their tablet, computer, or smartphone.

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Risks of Missing a Quorum in Colorado

Missing quorums can cause costly delays. It can also result in calling emergency meetings to address matters that cannot be postponed until a rescheduled meeting. Missing a quorum generally requires a rescheduled meeting and new notices to members. Unfortunately, you have no guarantee that a quorum will be present at the next meeting.

Allowing your members to attend annual meetings remotely could be the solution to your problems obtaining a quorum.

Annual General Meeting Requirements

The annual meeting is held to conduct business that impacts the entire community. However, these meetings may also provide owners and shareholders the opportunity to voice concerns or issues.

The Colorado Common Interest Ownership Act (CCIOA)

The CCIOA governs the management of common interest properties in Colorado. Meetings of the members are held at least once per year. Notice of annual meetings should be sent to members at least ten days before a meeting, but not more than 50 days before the meeting. 

The bylaws may provide for a quorum other than the one stated in the code. If not, the code defines a quorum for members meeting of twenty percent of the votes to be cast on a matter. If the association has over one thousand unit owners, the quorum is ten percent. The quorum for board meetings is 50 percent of the votes on the board.

Votes may be cast in person or by proxy. In specific cases, a secret ballot may be authorized by the board of directors. Votes allocated to units owned by the association may not be cast.

The Colorado Revised Nonprofit Corporation Act

Most associations for common interest properties (i.e., HOAs, co-ops, and condominiums) are organized as nonprofit corporations. Therefore, they would be subject to the Revised Nonprofit Corporation Act (§7-121-101 et. seq.). 

Unless the bylaws eliminate the requirement for an annual meeting, the association shall hold a meeting of members each year according to §7-127-101. Each member should receive a notice of the meeting at least ten days before the meeting, but not more than 60 days. If the notice is not mailed by registered mail or first class mail, the minimum notice period is 30 days.

Voting may be made in person, by written ballot, or by proxy. Proxies must conform to §7-127-203, and ballots must conform to §7-127-109. Unless otherwise provided by statute or the bylaws, a quorum equals 25 percent of the votes entitled to be cast on the matter by the voting group.

Virtual Annual Meetings in Colorado

The Colorado Common Interest Ownership Act does not refer to remote meetings or electronic voting.

However, Section 7-127-108 of the Nonprofit Corporation Act states that annual meetings of members may be conducted by any means of communication that allows all persons to participate in the live meeting. Individuals participating remotely are deemed to be present in person at the meeting. 

Board members should review their bylaws and articles and consult with legal counsel if they are unsure whether their organization is subject to the nonprofit corporation statutes.

Hold Your Colorado Annual Board Meetings Virtually with BuildingBoard

BuildingBoard is easy to use, convenient, and avoids problems reaching quorums. Schedule your meeting, invite members via email, and conduct the vote on the day of the meeting. Your members vote via their smartphone or computer.

Are you ready to simply your annual meetings? Contact BuildingBoard to learn more about our services and to schedule a demo.

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