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GOVERNOR POLIS SIGNS SENATE BILL 20-211

In late June, SB 20-211 was approved, limiting creditors, including owner associations, from taking extraordinary actions to recover assessment delinquencies.  Specifically, associations are prohibited from garnishing wages, levying bank accounts or otherwise executing on a court judgment.  The Act is intended to provide some relief to individuals who have been financially impacted by the COVID virus.  This Bill went into effect immediately and is scheduled to sunset on November 1, 2020.

GOVERNOR-POLIS-SIGNS-SENATE-BILL-20-211What Does This Mean For Owner Associations?

Some legal remedies will be curtailed for the time being.  This does not, however, suggest that associations should delay or defer enforcement of the HOA Collection Policy.  To the contrary, delinquent accounts should be pursued in the normal course of business and referred to collections, as directed by the Policy.  The association’s collection attorney has a variety of tools available to collect delinquent assessments, including generous payment plans directed at owners who have been impacted by COVID-19.

Associations should not allow delinquencies to snowball.  Doing so will make effective collection efforts more difficult, in the long run.  When in doubt, contact your collection attorney for assistance in determining a proper course of action.

You can read the summary of the SB 20-211 here.

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