Colorado § 42-6-123 Disposition after mortgaging

Colorado Statutes

§ 42-6-123 — Disposition after mortgaging

Colorado·Title 42 Vehicles and·Art. Certificates of Title -

After a mortgage on a motor or off-highway vehicle has been filed in the authorized agent's office, the authorized
agent shall mail, deliver, or electronically transfer to the director the certificate of
title or other evidence of ownership satisfactory to the director as specified in rules
adopted under section 42-6-104 that the authorized agent has filed in the record.
The director shall maintain completed electronic records transferred by the
authorized agent. The director shall issue a new certificate of title containing, in
addition to the other matters required to be set forth in certificates of title, a
description of the mortgage and all information respecting the mortgage and the
filing of the mortgage that appear in the certificate of the authorized agent, and the
direct

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After a mortgage on a motor or off-highway vehicle has been filed in the authorized agent's office, the authorized
agent shall mail, deliver, or electronically transfer to the director the certificate of
title or other evidence of ownership satisfactory to the director as specified in rules
adopted under section 42-6-104 that the authorized agent has filed in the record.
The director shall maintain completed electronic records transferred by the
authorized agent. The director shall issue a new certificate of title containing, in
addition to the other matters required to be set forth in certificates of title, a
description of the mortgage and all information respecting the mortgage and the
filing of the mortgage that appear in the certificate of the authorized agent, and the
director or the director's authorized agent shall then dispose of the new certificate
of title containing the notation as provided in section 42-6-124. When a motor or
off-highway vehicle is subject to an electronic mortgage or lien, the certificate of
title for the motor or off-highway vehicle is considered to be physically held by the
mortgagee or lienholder for all legal purposes, including compliance with state or
federal odometer disclosure requirements.

Colorado § 42-6-123 (Disposition after mortgaging) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 94: Entire title amended with relocations, p. 2459, � 1, effective January 1, 1995. L. 2000: Entire section amended, p. 1664, � 17, effective July 1, 2001. L. 2013: Entire section amended, (HB 13-1289), ch. 380, p. 2225, � 5, effective June 5; entire section amended, (SB 13-280), ch. 407, pp. 2387, 2397, �� 19, 42, effective June 5.