Colorado § 38-33.3-120.5 Extension of declaration term

Colorado Statutes

§ 38-33.3-120.5 — Extension of declaration term

Colorado § 38-33.3-120.5

Title 38Property -

Art.Colorado Common Interest Ownership Act

This text of Colorado § 38-33.3-120.5 (Extension of declaration term) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 38-33.3-120.5 (2026).

Text

(1)If a common interest community has a declaration in effect with a limited term of years that was recorded prior to July 1, 1992, and if, before the term of the declaration expires, the unit owners in the common interest community have not amended the declaration pursuant to section 38-33.3-120 and in accordance with any conditions or fixed limitations described in the declaration, the declaration may be extended as provided in this section.

(2)The term of the declaration may be extended:

(a)If the executive board adopts a resolution recommending that the declaration be extended for a specific term not to exceed twenty years and directs that the question of extending the term of the declaration be submitted to the unit owners, as members of the association; and

(b)If an e

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(1) If a common interest
community has a declaration in effect with a limited term of years that was
recorded prior to July 1, 1992, and if, before the term of the declaration expires, the
unit owners in the common interest community have not amended the declaration
pursuant to section 38-33.3-120 and in accordance with any conditions or fixed
limitations described in the declaration, the declaration may be extended as
provided in this section.

(2) The term of the declaration may be extended:

(a) If the executive board adopts a resolution recommending that the
declaration be extended for a specific term not to exceed twenty years and directs
that the question of extending the term of the declaration be submitted to the unit
owners, as members of the association; and

(b) If an extension of the term of the declaration is approved by vote or
agreement of unit owners of units to which at least sixty-seven percent of the votes
in the association are allocated or any larger percentage the declaration specifies.

(3) Except for the extension of the term of a declaration as authorized by this
section, no other provision of a declaration may be amended pursuant to the
provisions of this section.

(4) For any meeting of unit owners at which a vote is to be taken on a
proposed extension of the term of a declaration as provided in this section, the
secretary or other officer specified in the bylaws shall provide written notice to
each unit owner entitled to vote at the meeting stating that the purpose, or one of
the purposes, of the meeting is to consider extending the term of the declaration.
The notice shall be given in the time and manner specified in section 38-33.3-308
or in the articles of incorporation, declaration, bylaws, or other governing
documents of the association.

(5) The extension of the declaration, if approved, shall be included in an
amendment to the declaration and shall be executed, acknowledged, and recorded
by the association in the records of the clerk and recorder of each county in which
any portion of the common interest community is located. The amendment shall
include:

(a) A statement of the name of the common interest community and the
association;

(b) A statement that the association has elected to extend the term of the
declaration pursuant to this section and the term of the approved extension;

(c) A statement that indicates that the executive board has adopted a
resolution recommending that the declaration be extended for a specific term not
to exceed twenty years, that sets forth the date of the meeting at which the unit
owners elected to extend the term of the declaration, and that declares that the
extension was authorized by a vote or agreement of unit owners of units to which at
least sixty-seven percent of the votes in the association are allocated or any larger
percentage the declaration specifies;

(d) A statement of the names and respective addresses of the officers and
executive board members of the association.

(6) Upon the recording of the amendment required by subsection (5) of this
section, and subject to the provisions of this section, a common interest community
is subject to all provisions of the declaration, as amended.