Rules & Regulations

On February 14, 2018 via email, the Board of Directors adopted the following nine resolutions enacting policies needed to come into compliance with the Colorado Common Interest Ownership Act. Read below for an overview of CCIOA and a brief description of each policy. For the complete text of the Board enacted resolution, please see the 9 linked files below the briefs.

CCIOA

CCIOA stands for Colorado Common Interest Ownership Act and the Act’s provisions govern the formation, management, powers, and operation of all common interest communities in Colorado. Please google CCIOA or visit Altitude Law if you would like to learn more about CCIOA.

Reserve Studies

The reserve study shall consist of both physical and financial analyses of common area components that the Association is obligated to maintain, repair and/or replace. The physical analysis identifies the current condition of each component, its useful life and remaining useful life. The financial analysis projects future funding requirements and the status of the reserve fund

Adoption and Amendment of Policies, Procedures and Rules

All policies, procedures, rules and regulations of the Mountain Edge Condominiums shall be set forth in written resolutions of the Association adopted by the Board of Directors.

Alternative Dispute

In the event of any dispute involving the Association and an owner, the owner is invited and encouraged to meet with the Board of Directors to resolve the dispute informally and without the need for litigation.

Collection of Unpaid Assessments

Notice of regular common area assessments will be mailed or emailed to each condominium owner or other designated person by the manager of the Association the first week of each calendar quarter.

Conduct of Meetings

Membership meetings will be held at least once a year. Special meetings of the membership may be called by the president, by a majority of the Board of Directors, or by members having 20% of the votes in the Association.

Conflicts of Interest

Policy regarding potential conflicts of interest relating to the financial relationship between the Association and a board member.

Enforcement of Declarations

The Association acknowledges that it has a duty to the membership of the Association to enforce the Declarations in Mountain Edge Condominiums. It is the policy of the Association to enforce as written any provision of the Declarations that is clear and unambiguous.

Inspection and copying of Records

The Association will keep as permanent records minutes of all meetings of the membership and board of directors, a record of all actions taken by the owners or board of directors by written ballot or written consent in lieu of a meeting, and a record of all waivers of notices of meetings of members of the Board of Directors.

Investment of Reserve Funds

The Board of Directors shall make investment decisions in good faith, and with the care and ordinarily prudent person in like position with exercise under similar circumstances, and in a manner the director or officer reasonably believes to be in the best interest of the Association.