1. Colorado courts are starting to pierce the limited liability veil where LLC’s are involved. They use their “equitable powers” to find personal liability if the LLC is the alter ego of a member, funds are co-mingled, records are missing, etc. So to all of you out there, who function under an LLC, keep GOOD records of meetings and company activity, have VERY separate bank accounts and accounting records of the LLC and never put personal interest ahead of corporate interest. The law is changing my friends.
2. The Colorado Legislature has been busy this year! Here’s a sampling of new laws or changing laws affecting our backyard:
- New standards for water efficiency and conservation in the plumbing code
- Regulation of inactive Special Districts
- Modifications to the Urban and Rural Enterprise Zones
- Authorization to Study reversible highway lanes on I-70
- Increased protection for mobile home owners who lease space in mobile home parks
- Creation of lien rights for commercial real estate brokers (!)
- Amended, Deferred and Expedited Foreclosure Practices and Sales of residential property
- New licensing criteria of Land Surveyor applicants
- New fees to be charged by county Clerk and Recorders
- Requirement of mortgage companies to be registered by the Division of Real Estate,
- Location of private burials have to be recorded
- Maximum authorized interest rate for a payday loan (45%/year)
- Fines for unauthorized diversion of surface water
- Measures to encourage investment in solar energy generation facilities
- Regulation of the development of geothermal resources
- Award of expenses in property tax valuation appeals; and of course,
- Regulation of Medical Marijuana!