C.R.S. § 38-33.3-220

(1) If the declaration provides that any of the powers of a unit owners’ association described in section 38-33.3-302 are to be exercised by or may be delegated to a master association, all provisions of this article applicable to unit owners’ associations apply to any such master association except as modified by this section. (2) Unless it is acting in the capacity of an association described in section 38-33.3-301 , a master association may exercise the powers set forth in section 38-33.3-302 (1)(b) only to the extent such powers are expressly permitted to be exercised by a master association in the declarations of common interest communities which are part of the master association or expressly described in the delegations of power from those common interest communities to the master association. (3) If the declaration of any common interest community provides that the executive board may delegate certain powers to a master association, the members of the executive board have no liability for the acts or omissions of the master association with respect to those powers following delegation. (4) The rights and responsibilities of unit owners with respect to the unit owners’ association set forth in sections 38-33.3-303 , 38-33.3-308 , 38-33.3-309 , 38-33.3-310 , and 38-33.3-312 apply in the conduct of the affairs of a master association only to persons who elect the board of a master association, whether or not those persons are otherwise unit owners within the meaning of this article. (5) Even if a master association is also an association described in section 38-33.3-301 , the articles of incorporation and the declaration of each common interest community, the powers of which are assigned by the declaration or delegated to the master association, must provide that the executive board of the master association be elected after the period of declarant control, if any, in one of the following ways: (a) All unit owners of all common interest communities subject to the master association may elect all members of the master association’s executive board. (b) All members of the executive boards of all common interest communities subject to the master association may elect all members of the master association’s executive board. (c) All unit owners of each common interest community subject to the master association may elect specified members of the master association’s executive board. (d) All members of the executive board of each common interest community subject to the master association may elect specified members of the master association’s executive board.