Colorado Reserve Studies
The state of Colorado has adopted specific statutes related to reserve studies, which are set forth in Colorado HB-1359. While the original bill required a reserve study at least every three years, the final bill simply requires that associations adopt a governance policy with respect to reserve studies. Unfortunately, this language is rather ambiguous. Our discussions with Colorado lawyers tells us that most are recommending that associations adopt policies which specify a full reserve study every three years, with annual updates for intervening years.
