Question:
This happened without my knowledge or input: HOA members voted to use reserve funds to offset the expense to replace hailstorm damage to certain individual units. My property was not affected and when I found out about this action, I was told I could not vote on the issue because my property was not damaged.. It is my understanding that reserve funds are supposed to be used for capital projects, not to benefit any individual property. Secondly, I was excluded from being advised of this proposed action and from being able to discuss or vote on the matter.
The condominium documents are silent on this.
Will you please advise me? Thank you.
– Celeste
Answer:
Hi Celeste,
Examine your association’s bylaws, declarations, and any policies related to reserve funds and board decision-making processes. Consult with an attorney experienced in Colorado HOA law to assess the appropriateness of using reserve funds in this manner and to address any governance issues arising from your exclusion. Finally, make sure to advocate for clear communication and inclusive decision-making within the board to ensure all members can fulfill their fiduciary responsibilities effectively.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
