The Colorado Common Interest Ownership Act ("CCIOA") was adopted in July, 1992 and governs associations in Colorado. Most provisions of CCIOA apply only to communities created after July, 1992. However, certain portions of CCIOA apply to all common interest communities regardless of when the community was formed or whether the community has opted into CCIOA. Many of these provisions are well known, such as the right of the Association to recover attorney fees, adopt reasonable rules and impose fines. However, one of the lesser known provisions is related to statements of accounts (C.R.S. S38-33.3-316(8)) and can have significant ramifications for associations.

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