CO Code § 38-33.3-116 (2021)
2021 Colorado Code|Title 38 - Property - Real and Personal|Article 33.3 - Colorado Common Interest Ownership Act|Part 1 - General Provisions|§ 38-33.3-116. Exception for New Small Cooperatives and Small and Limited Expense Planned Communities

  If a cooperative created in this state on or after July 1, 1992, but prior to July 1, 1998, contains only units restricted to nonresidential use or contains no more than ten units and is not subject to any development rights, it is subject only to sections 38-33.3-105 to 38-33.3-107, unless the declaration provides that this entire article is applicable. If a planned community created in this state on or after July 1, 1992, but prior to July 1, 1998, contains no more than ten units and is not subject to any development rights or if a planned community provides, in its declaration, that the annual average common expense liability of each unit restricted to residential purposes, exclusive of optional user fees and any insurance premiums paid by the association, may not exceed four hundred dollars, as adjusted pursuant to subsection (3) of this section, it is subject only to sections 38-33.3-105 to 38-33.3-107, unless the declaration provides that this entire article is applicable.    If a cooperative or planned community created in this state on or after July 1, 1998, contains only units restricted to nonresidential use, or contains no more than twenty units and is not subject to any development rights, it is subject only to sections 38-33.3-105 to 38-33.3-107, unless the declaration provides that this entire article is applicable. If a planned community created in this state after July 1, 1998, provides, in its declaration, that the annual average common expense liability of each unit restricted to residential purposes, exclusive of optional user fees and any insurance premiums paid by the association, may not exceed four hundred dollars, as adjusted pursuant to subsection (3) of this section, it is subject only to sections 38-33.3-105 to 38-33.3-107, unless the declaration provides that this entire article is applicable.    The dollar limitation set forth in subsections (1) and (2) of this section shall be increased annually on July 1, 1999, and on July 1 of each succeeding year in accordance with any increase in the United States department of labor bureau of labor statistics final consumer price index for the Denver-Boulder consolidated metropolitan statistical area for the preceding calendar year. The limitation shall not be increased if the final consumer price index for the preceding calendar year did not increase and shall not be decreased if the final consumer price index for the preceding calendar year decreased.     History. Source: L. 91: Entire article added, p. 1710, § 1, effective July 1, 1992. L. 93: Entire section amended, p. 644, § 5, effective April 30. L. 98: Entire section amended, p. 477, § 2, effective July 1. L. 2009: (1) and (2) amended,(SB 09-249), ch. 248, p. 1119, § 1, effective May 14. L. 2016: (1) and (3) amended,(HB 16-1149), ch. 104, p. 300, § 2, effective July 1, 2018.    Editor's note:   Section 4(2) of chapter 104 (HB 16-1149), Session Laws of Colorado 2016, provides that changes to this section by the act apply to budgets adopted by a common interest community's executive board on or after July 1, 2018.   ANNOTATION   Having opted for an exemption from the Colorado Common Interest Ownership Act (CCIOA) by limiting the amount of homeowners' dues assessed, a homeowners' association cannot refuse to be bound by such limitation and therefore cannot impose a special assessment in an amount above such limit. Quinn v. Castle Park Ranch Prop. Owners Ass'n, 77 P.3d 823 (Colo. App. 2003).   Mixed-use community is not a small planned community that qualifies for exemptions from many CCIOA requirements under subsection (2) where a reciprocal easements and covenants agreement initially created only two lots for the community but reserved to the owner of one of the lots the right to create a condominium regime and the owner subsequently subdivided the lot into sixty-six condominium units. The right to subdivide the lot made the community that it was part of subject to development rights and ineligible to qualify as a small planned community under subsection (2). Arrabelle V.S.R.C.A. v. Arrabelle V.S., 2016 COA 123 , 382 P.3d 1275.