C.R.S. Section 38-33.3-112
Unconscionable agreement or term of contract

(1)

The court, upon finding as a matter of law that a contract or contract clause relating to a common interest community was unconscionable at the time the contract was made, may refuse to enforce the contract, enforce the remainder of the contract without the unconscionable clause, or limit the application of any unconscionable clause in order to avoid an unconscionable result.

(2)

Whenever it is claimed, or appears to the court, that a contract or any contract clause relating to a common interest community is or may be unconscionable, the parties, in order to aid the court in making the determination, shall be afforded a reasonable opportunity to present evidence as to:

(a)

The commercial setting of the negotiations;

(b)

Whether the first party has knowingly taken advantage of the inability of the second party reasonably to protect such second party’s interests by reason of physical or mental infirmity, illiteracy, or inability to understand the language of the agreement or similar factors;

(c)

The effect and purpose of the contract or clause; and

(d)

If a sale, any gross disparity at the time of contracting between the amount charged for the property and the value of that property measured by the price at which similar property was readily obtainable in similar transactions. A disparity between the contract price and the value of the property measured by the price at which similar property was readily obtainable in similar transactions does not, of itself, render the contract unconscionable.

Source: Section 38-33.3-112 — Unconscionable agreement or term of contract, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-38.­pdf (accessed Oct. 20, 2023).

38‑33.3‑101
Short title 38‑33.3‑102
Legislative declaration 38‑33.3‑103
Definitions 38‑33.3‑104
Variation by agreement 38‑33.3‑105
Separate titles and taxation 38‑33.3‑106
Applicability of local ordinances, regulations, and building codes 38‑33.3‑106.5
Prohibitions contrary to public policy - patriotic, political, or religious expression - public rights-of-way - fire prevention - renewable energy generation devices - affordable housing - drought prevention measures - child care - definitions 38‑33.3‑106.7
Unreasonable restrictions on energy efficiency measures - definitions 38‑33.3‑106.8
Unreasonable restrictions on electric vehicle charging systems and electric vehicle parking - legislative declaration - definitions 38‑33.3‑107
Eminent domain 38‑33.3‑108
Supplemental general principles of law applicable 38‑33.3‑109
Construction against implicit repeal 38‑33.3‑110
Uniformity of application and construction 38‑33.3‑111
Severability 38‑33.3‑112
Unconscionable agreement or term of contract 38‑33.3‑113
Obligation of good faith 38‑33.3‑114
Remedies to be liberally administered 38‑33.3‑115
Applicability to new common interest communities 38‑33.3‑116
Exception for new small cooperatives and small and limited expense planned communities 38‑33.3‑116.3
Large planned communities - exemption from certain requirements 38‑33.3‑117
Applicability to preexisting common interest communities 38‑33.3‑118
Procedure to elect treatment under the “Colorado Common Interest Ownership Act” 38‑33.3‑119
Exception for small preexisting cooperatives and planned communities 38‑33.3‑120
Amendments to preexisting governing instruments 38‑33.3‑120.5
Extension of declaration term 38‑33.3‑121
Applicability to nonresidential planned communities 38‑33.3‑122
Applicability to out-of-state common interest communities 38‑33.3‑123
Enforcement - limitation 38‑33.3‑124
Legislative declaration - alternative dispute resolution encouraged - policy statement required 38‑33.3‑201
Creation of common interest communities 38‑33.3‑202
Unit boundaries 38‑33.3‑203
Construction and validity of declaration and bylaws 38‑33.3‑204
Description of units 38‑33.3‑205
Contents of declaration 38‑33.3‑206
Leasehold common interest communities 38‑33.3‑207
Allocation of allocated interests 38‑33.3‑208
Limited common elements 38‑33.3‑209
Plats and maps 38‑33.3‑209.4
Public disclosures required - identity of association - agent - manager - contact information 38‑33.3‑209.5
Responsible governance policies - due process for imposition of fines - procedure for collection of delinquent accounts - enforcement through small claims court - definitions 38‑33.3‑209.6
Executive board member education 38‑33.3‑209.7
Owner education 38‑33.3‑210
Exercise of development rights 38‑33.3‑211
Alterations of units 38‑33.3‑212
Relocation of boundaries between adjoining units 38‑33.3‑213
Subdivision of units 38‑33.3‑214
Easement for encroachments 38‑33.3‑215
Use for sales purposes 38‑33.3‑216
Easement rights 38‑33.3‑217
Amendment of declaration 38‑33.3‑218
Termination of common interest community 38‑33.3‑219
Rights of secured lenders 38‑33.3‑220
Master associations 38‑33.3‑221
Merger or consolidation of common interest communities 38‑33.3‑221.5
Withdrawal from merged common interest community 38‑33.3‑222
Addition of unspecified real estate 38‑33.3‑301
Organization of unit owners’ association 38‑33.3‑302
Powers of unit owners’ association 38‑33.3‑302.5
Unit owners’ access to common elements - duties of association - unreasonable restrictions and prohibitions prohibited - notice of restriction or prohibition required 38‑33.3‑303
Executive board members and officers - powers and duties - reserve funds - reserve study - audit 38‑33.3‑303.5
Construction defect actions - disclosure - approval by unit owners - definitions - exemptions 38‑33.3‑304
Transfer of special declarant rights 38‑33.3‑305
Termination of contracts and leases of declarant 38‑33.3‑306
Bylaws 38‑33.3‑307
Upkeep of the common interest community 38‑33.3‑308
Meetings 38‑33.3‑309
Quorums 38‑33.3‑310
Voting - proxies 38‑33.3‑310.5
Executive board - conflicts of interest - definitions 38‑33.3‑311
Tort and contract liability 38‑33.3‑312
Conveyance or encumbrance of common elements 38‑33.3‑313
Insurance 38‑33.3‑314
Surplus funds 38‑33.3‑315
Assessments for common expenses 38‑33.3‑316
Lien for assessments - liens for fines, fees, charges, costs, and attorney fees - limitations 38‑33.3‑316.3
Collections - limitations - violations 38‑33.3‑316.5
Time share estate - foreclosure - definitions 38‑33.3‑317
Association records - rules - applicability 38‑33.3‑318
Association as trustee 38‑33.3‑319
Other applicable statutes 38‑33.3‑401
Registration - annual fees
Green check means up to date. Up to date

Current through Fall 2024

§ 38-33.3-112’s source at colorado​.gov