CO SB024

Residential nonprofit corporations must refund entrance fees to members within 90 days of resignation, termination, expulsion, suspension, or transfer of membership for contracts entered on or after March 11, 2011.

Members or their heirs are not liable for periodic payments due more than 30 days after termination if membership ends due to death or reasons beyond the member's control.

Board of directors meetings, executive committee meetings, and committee meetings authorized to take final board action must be open to all residential members or their representatives.

Boards must provide meeting agendas in advance or give a general description of meeting purpose and subject matter if no formal agenda exists, with at least 30 days' notice of any changes to how meeting information will be provided.

Boards must inform members at least annually of the method and location where meeting agendas and notices will be posted or made available online.