As of January 1, 2014, HOA’s (Home Owner’s Associations) are required to comply with numerous new requirements relating to the collection and enforcement of debts and the utilization of liens. These requirements apply to CCIOA (Colorado Common Interest Ownership Act) communities, as well as preexisting communities which have not elected coverage under CCIOA. With these new statutory requirements, collection of unpaid assessments may not be pursued unless an HOA has policies outlining the due date, late fees and interest, returned check charges, notice of default, and payment plans, among other things. Additionally, the are specific requirements which must be satisfied in order to foreclose upon a lien. We can help HOA’s amend their Declarations and related governing documents to conform with these new standards.