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July Survey Results
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Do you anticipate the dollar cost to associations to comply with SB 100's provisions will be:
Minor - 18%
Not too bad - 22%
Significant - 55%
Astronomical - 4%
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Bankruptcy Reform Brings Both Relief and Uncertainty to Homeowner Associations
The formal ceremony lasted only a few minutes, but it took credit card companies, banks, and large retailers eight years to win Congressional approval of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 that President Bush signed into law April 20, 2005. “This law will protect those who legitimately need help, stop those who try to commit fraud, and bring greater stability and fairness to the system,” President Bush said of the new law, which mandates the most comprehensive overhaul of the nation’s bankruptcy rules in more than 25 years.
[FULL STORY]
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Supreme Court Upholds Homeowners Rights: Yacht Club Economic Loss Rule
The “Economic Loss Rule” does not prevent homeowners and homeowner associations from bringing construction defect claims directly against the subcontractors responsible for the defective work, the Colorado Supreme Court has ruled. In A.C. Excavating v. Yacht Club II Homeowners Ass’n, an association alleged that various subcontractors were liable for the cost of fixing leaking windows and roofs, poor drainage, and other examples of negligent workmanship in a Westminster community. The trial court found that the Economic Loss Rule barred the association’s claims and dismissed the case, but the Supreme Court reinstated the suit, concluding that the Economic Loss Rule is inapplicable.
[FULL STORY]
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What Are Policies, Procedures, Rules and Regulations?
Written policies, procedures, rules, regulations and resolutions are indispensable to having a well-run and responsibly governed homeowners association. With the enactment of SB 100, their significance has become more important and even required in some instances. But what exactly are policies, procedures, rules, regulations and resolutions? Each plays a separate and important role in association operations and these functions are explained here.
[FULL STORY]
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Case of the Month: $227,000 Worth of Daily Fines Upheld by California Trial Court
Hope Ranch association had a big problem with one of its owners. Described as “the neighbor from hell,” the owner in question flagrantly violated rule after rule by blocking horse trails, screening in his property, installing flood lights, and converting a section of his property into a parking lot. In an attempt to force compliance, the association imposed a daily $100.00 fine until the owner cured the violations. Undeterred, the owner refused to comply with the association’s rules. Hope Ranch then found itself in court, defending the $227,000 fine that the owner had accumulated.
[FULL STORY]
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SB 100 FAQs
Each month we answer SB 100 related questions asked by our readers.
[FULL STORY]
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The University
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Upcoming Classes:
SB 100 Seminars
August 23, 2005 - Avon Public Library
200 Benchmark Road, Avon 81620
1:00 - 4:00 PM
August 25, 2005 - Edwin A. Bemus Library
6014 South Datora Street, Littleton 80120
6:00 - 8:30 PM
August 30, 2005 - Wheat Ridge office
11901 West 48th Avenue, Wheat Ridge 80033
6:30 - 9:00 PM
Click here to register
Manager Lunch Forums
Limiting Association Liability
Wheat Ridge Office
September 1, 12:00pm - 1:30pm
Click here to register
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Community Associations Institute
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The Community Associations Institute (CAI) is a nonprofit organization that provides education and resources to community associations. To find out more about CAI visit www.caionline.org
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