CO HB1333

Requires HOAs to post governing documents and amendments on a website maintained by the HOA information officer, in addition to county land record recording.

Mandates executive board members complete a free online basic training course by July 1, 2021, or within 60 days of joining the board.

Requires reserve studies at least every five years and annual board review and adjustment of reserve funding, with minimum funding at one-half of the professional study amount unless voted down by unit owners.

Eliminates annual audit option but allows informal audits unless required by bylaws or majority vote; establishes $50 per day penalty (up to $500 maximum) for HOAs withholding records beyond the 30-calendar-day deadline.

Restricts declarant control termination to earlier of: 75% unit sales to non-declarant owners, one year after last unit sale, two years after first unit sale to non-declarant, or for large planned communities, two years after last unit sale (reduced from six years) or five years after declaration recording (reduced from twenty years).