Colorado § 42-7-421 When director may release proof of financial responsibility

Colorado Statutes

§ 42-7-421 — When director may release proof of financial responsibility

Colorado § 42-7-421

Title 42Vehicles and

Art.Motor Vehicle Financial Responsibility Law

This text of Colorado § 42-7-421 (When director may release proof of financial responsibility) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 42-7-421 (2026).

Text

(1)The director, upon request, shall cancel any bond or return any certificate of insurance, or the director shall direct and the state treasurer shall return to the person entitled thereto any money or securities deposited pursuant to this article as proof of financial responsibility, or waive the requirement of filing proof of financial responsibility in any of the following events:

(a)At any time after three years from the date such proof was required, or after any other period during which proof was required pursuant to section 42-7-408 (1) in the case of certain violations for an alcohol-related driving offense, if, during such three-year or other period preceding the request, the person furnishing such proof has not been convicted of any offense referred to in section 42-

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(1)
The director, upon request, shall cancel any bond or return any certificate of
insurance, or the director shall direct and the state treasurer shall return to the
person entitled thereto any money or securities deposited pursuant to this article
as proof of financial responsibility, or waive the requirement of filing proof of
financial responsibility in any of the following events:

(a) At any time after three years from the date such proof was required, or
after any other period during which proof was required pursuant to section 42-7-408 (1) in the case of certain violations for an alcohol-related driving offense, if,
during such three-year or other period preceding the request, the person furnishing
such proof has not been convicted of any offense referred to in section 42-7-406;
or

(b) In the event of the death of the person on whose behalf such proof was
filed, or the permanent incapacity of such person to operate a motor vehicle; or

(c) In the event the person who has given proof of financial responsibility
surrenders the person's license to the director, but the director shall not release
such proof in the event any action for damages upon a liability referred to in this
article is then pending or any judgment upon any such liability is then outstanding
and unsatisfied or in the event the director has received notice that such person has
within the period of three months immediately preceding been involved as a driver
in any motor vehicle accident. An affidavit of the applicant of the nonexistence of
such facts shall be sufficient evidence thereof in the absence of evidence to the
contrary in the records of the department.

(2) Whenever any person to whom proof has been surrendered, as provided
in paragraph (c) of subsection (1) of this section, applies for a license within a period
of three years from the date proof of financial responsibility was originally required,
or within any other period during which proof of financial responsibility was
required pursuant to section 42-7-408 (1), any such application shall be refused
unless the applicant establishes such proof for the remainder of such period.

Legislative History

Source: L. 94: Entire title amended with relocations, p. 2487, � 1, effective January 1, 1995. L. 95: (1)(a) and (2) amended, p. 710, � 7, effective May 23.