There is mention in one of our HOA’s CCRs that if we are annexed by an incorporated city that the entire HOA becomes null an void. When the developer was questioned about that he said it was a law. I can find no such law and want to know if this is true.
According to Colo. Rev. Stat. § 38-33.3-218(1): “Except in the case of a taking of all the units by eminent domain, or in the case of foreclosure against an entire cooperative of a security interest that has priority over the declaration, a common interest community may be terminated only by agreement of unit owners of units to which at least sixty-seven percent of the votes in the association are allocated or any larger percentage the declaration specifies. The declaration may specify a smaller percentage only if all of the units in the common interest community are restricted exclusively to nonresidential uses.”
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